If the Consumer Price Index (CPI)is 220 One Year and 210

question 78

Multiple Choice

If the consumer price index (CPI) is 220 one year and 210 the next,the annual rate of inflation as measured by the CPI is approximately _____.

• A)−2.3 percent
• B)−4.6 percent
• C)10 percent
• D)4.8 percent
• E)220 percent

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Definitions:

Informational Influence

A form of social influence where an individual changes their behavior or beliefs based on information received from others.

Normative Influence

The influence of other people that leads us to conform in order to be liked and accepted by them.

Idiosyncrasy Credits

A theoretical currency individuals earn by conforming to group norms; these credits give the individual leeway to deviate from norms at later points without facing negative repercussions.

Membership Fee

The amount of money required to join an organization, club, or group.