In 2009,the EPA

question 40

Multiple Choice

In 2009,the EPA:

• A) denied California a waiver from the Clean Air Act standards, which would have allowed California permission to set stricter automobile pollution standards than the federal standards.
• B) approved California automobile pollution standards, which were stricter than federal standards.
• C) rejected California automobile pollution standards, which were not as strict as federal standards.
• D) set individual automobile pollution standards for each state depending upon the density of its population.

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Definitions:

Inflation Rate

The level of acceleration in the overall pricing of goods and services, resulting in a decline in buying efficiency.

Nominal Interest Rate

The rate of interest before adjusting for inflation, representing the face value of interest payments made on savings or loans.

Real Interest Rate

The interest rate adjusted for inflation, representing the real cost of borrowing and the real yield to lenders.

Inflation

A general increase in prices and fall in the purchasing value of money over time.