Inflation Is a Major Concern for Economists

question 73

Multiple Choice

Inflation is a major concern for economists. Many are predicting higher inflation rate in the coming year. If a loaf of bread cost $1.99 last year and is now $2.25, determine the annual rate of inflation.

• A) 13.06%
• B) 11.08%
• C) 10.28%
• D) 9.54%
• E) 8.63%

---

Definitions:

Cognitive Aspect

Related to the mental processes involved in perception, memory, judgment, and reasoning.

Personal Aspect

An individual's characteristics, traits, or personal attributes that define their unique identity and personality.

Social Aspect

Relates to how individuals interact within society, including the formation of relationships, communities, and social norms.

Bridging Cultural Worlds

The act or process of creating connections and understanding between people from different cultural backgrounds to foster inclusion, cooperation, and mutual respect.