The Table Shown Displays CPI Data for 2015 to 2019

question 8

Multiple Choice

The table shown displays CPI data for 2015 to 2019. What can be said about the rate of inflation over these dates?

• A) Deflation occurred until 2017, then inflation occurred.
• B) Deflation occurred until 2019, then inflation occurred.
• C) Inflation occurred every year from 2015 to 2019.
• D) Inflation was highest from 2015 to 2016.

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Definitions:

Borrowed Funds

Money that has been loaned to a borrower, which must typically be repaid with interest.

Phase-Out

A gradual reduction or elimination of a tax benefit or deduction as a taxpayer's income reaches or exceeds certain thresholds.

Itemized Deductions

Eligible expenses that individuals can claim on their tax returns to reduce their taxable income, such as mortgage interest, medical expenses, and charitable donations.

High-Income Individuals

Persons with income levels significantly above the average, often subject to higher tax rates and financial strategies.