Use the Following to Answer Questions

question 70

Multiple Choice

Use the following to answer questions.
Exhibit: Consumer Price Index for a City

-(Exhibit: Consumer Price Index for a City) The base year is 2002. Which of the following statements is true?

• A) The rate of inflation was highest in 2005 as compared to 2004 prices.
• B) Inflation in 2005 compared to 2004 prices was more than that in 2002 compared to 2001 prices.
• C) The deflation rate was 5% in the year 2005.
• D) The inflation rate fell between 2004 and 2005.

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Definitions:

Hiring Freeze

A temporary halt on hiring new employees, typically implemented by an organization to reduce costs.

Contracting Work

The practice of hiring external contractors to perform specific tasks or projects rather than employing full-time staff to do the same work.

Contract Workers

Individuals employed on a temporary basis to complete specific tasks or for a set period, often without the benefits provided to permanent staff.

Employment Legislation

Laws and regulations that govern the relationship between employers and employees, covering aspects such as wages, working hours, health and safety, and discrimination.