The Table Above Has Information About the CPI, Nominal Wage

question 3

Multiple Choice

$\begin{array} { c c c c } \hline \text { Year } & \text { CPI } & \begin{array} { c } \text { Nominal } \\\text { Wage Rate } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Nominal } \\\text { Interest Rate } \\\text { (percent) }\end{array} \\\hline 2010 & 100 & 15.00 & 3 \\2011 & 95 & 15.00 & 4 \\2012 & 103 & 17.00 & 9 \\\hline\end{array}$
The table above has information about the CPI, nominal wage rate, and nominal interest rate for The country of Syldavia for the years 2010 to 2012. The reference base year is 2011.
- The inflation rate In Syldavia from 2011 to 2012 was

• A)8.4 percent.
• B)10.3 percent.
• C)3.0 percent.
• D)8.0 percent.
• E)4.0 percent.

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Definitions:

Direct Labor-Hours

The broad sum of hours dedicated by workers directly in the manufacturing workflow.

Variable Overhead

Indirect production costs that vary with the level of output, such as utilities for a manufacturing plant.

Direct Materials

Raw materials that can be directly attributed to the production of finished goods.

Direct Labor-Hours

Total working hours accrued by employees integral to the manufacturing sequence.