Suppose That Your Income During Year X Was $50,000, and the CPI

question 1

Multiple Choice

Suppose that your income during Year X was $50,000, and the CPI for Year X was 150 (base year = Z=100) . Back in Year Z your income was $30,000. Has your real income (in year z dollars)   increased or decreased from Z to year X? By how much?

• A) Increased by $5,000.
• B) Increased by $3,333.
• C) Decreased by $5,000.
• D) Decreased by $3,333.

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Definitions:

Buyer In Ordinary Course Of Business

Describes a purchaser who buys goods in good faith and without knowledge that the sale violates another party's ownership rights or interests.

Instrument

Any writing that serves as evidence of the right to payment of money.

Writing

The representation of language in a textual medium through the use of a set of signs or symbols.

After-Acquired Property

Property not owned by a debtor at the time of a security agreement but acquired later and subsequently becomes subject to the security interest.