If the Price Level in the Year 2000 Is 100

question 198

Multiple Choice

If the price level in the year 2000 is 100, and the price level in the year 2001 is 110, what is the inflation rate in 2001?

• A) 100%
• B) 110%
• C) 10%
• D) 9%

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Definitions:

Utilitarianism

An ethical theory that suggests the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.

Moral Philosophy

The branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.

Ethical Behavior

Conducting oneself in a manner that adheres to principles of morality and fairness in all aspects of life, including business practices.

Hedonism

Hedonism is the ethical theory that pleasure (in the sense of the satisfaction of desires) is the highest good and proper aim of human life.