The Price Index in the First Year Is 120, in the Second

question 157

Multiple Choice

The price index in the first year is 120, in the second year is 150, and in the third year is 180. What is the inflation rate between the first and second year and between the second and third year?

• A) 20 percent between the first and second year, 33 percent between the second and third year
• B) 25 percent between the first and second year, 20 percent between the second and third year
• C) 25 percent between the first and second year, 50 percent between the second and third year
• D) 30 percent between the first and second year, 30 percent between the second and third year

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Definitions:

Production Standards

Quantitative indicators set by companies to measure the quality and rate of output over a specific period.

Strike

A work stoppage caused by the mass refusal of employees to work, typically to protest against terms of employment or working conditions.

Picket Lines

A boundary established by workers on strike, especially at the entrance to the place of work, meant to show unity and to discourage others from entering the premises.

Unfair Labor Practices

Actions by employers or unions that violate the rights of employees or union members, as defined by labor laws and regulations.