Suppose That a Price Index in Latvia Was 120 in 2011

question 70

Multiple Choice

Suppose that a price index in Latvia was 120 in 2011 and 150 in 2012. The inflation rate between those two years was approximately

• A) 8 percent.
• B) 12.5 percent.
• C) 25 percent.
• D) 30 percent.

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Definitions:

Cohesion

The force that holds a group together by promoting feelings of unity and purpose among its members.

Internal Competition

The rivalry among employees or departments within the same organization, often for resources, recognition, or promotion.

Social Status

The relative position or rank of an individual within a social hierarchy, determined by wealth, occupation, education, family background, and other factors.

Cooperative Teamwork Skills

Abilities that facilitate effective collaboration and partnership among team members towards a common goal.