Last Year, the Consumer Price Index Was 115 While the Consumer

question 246

Multiple Choice

Last year, the consumer price index was 115 while the consumer price index for this year is 125. The rate of inflation is

• A) 8%.
• B) 8.7%.
• C) 9.2%.
• D) 10.8%.

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Definitions:

Unemployment Compensation

A state system, created by the Federal Unemployment Tax Act (FUTA), that provides unemployment compensation to qualified employees who lose their jobs.

Unemployment Insurance Fund

A governmental fund designed to provide financial assistance to unemployed workers, funded by contributions from employers and the government.

Wagner Act

A foundational piece of labor legislation in the United States that established the rights of employees to organize, engage in collective bargaining, and take collective action, including strikes.

Taft-Hartley Act

Also known as the Labor Management Relations Act of 1947, it restricts the activities and power of labor unions in the United States.