If the Price Level Last Year Was 135 and This

question 22

Multiple Choice

If the price level last year was 135 and this year is 142, then the inflation rate between last period and this period was:

• A)4.9%.
• B)7%.
• C)5.1%
• D)5.2%.

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Definitions:

Legal Obligations

Commitments or duties bound by law that require an individual or company to act or refrain from acting in a certain manner.

Other Comprehensive Income

Earnings derived from non-operational activities that are not included in net income, recorded in equity.

Revaluation

Revaluation is an adjustment to the carrying value of a currency, asset, or liability to reflect its current market value.

Revaluation

The process of adjusting the carrying value of an asset or liability to reflect its current market value.