Wally Has Been Saving Every Penny to Buy Himself a Fishing

question 87

Multiple Choice

Wally has been saving every penny to buy himself a fishing boat when he turns eighteen.First, he selected the model boat he wanted, and then, over the past five years, has managed to save $10,000, price of the boat, from working at summer and after-school jobs.When Wally arrives at the boat dealership on his eighteenth birthday, he is disappointed to learn that the same boat now costs $11,200.The most likely reason for the price increase is:

• A)he cost of boat building materials has gone down
• B)Increase in purchase power of cash
• C)deflation
• D)a combination of cost increases and inflation

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Definitions:

Petty Offense

In criminal law, the least serious kind of wrong, such as a traffic or building code violation.

U.S. Congress

The bicameral legislative body of the United States federal government, consisting of two chambers: the Senate and the House of Representatives.

Federal Crimes

Illegal acts that violate the laws of the federal government of a country, as opposed to state or local laws.

Misdemeanor

A criminal offense considered less serious than a felony, typically punishable by fines, community service, or short-term imprisonment.