If the CPI Was 140 at the End of 2013

question 110

Multiple Choice

If the CPI was 140 at the end of 2013 and 150 at the end of 2014, what was the inflation rate in 2014?

• A)7.14 percent
• B)10 percent
• C)6.25 percent
• D)8 percent
• E)6.67 percent

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Definitions:

Federal Reserve System

The central banking system of the United States, responsible for monetary policy, bank regulation, and the stability of the financial system.

GDP

Gross Domestic Product, the total market value of all goods and services produced within a country in a specific time period, used as a broad measure of overall economic performance.

Personal Disposable Income

The amount of money that individuals have available for spending and saving after income taxes have been accounted for.

Manufacturing Output

The total value or volume of goods and products produced within a manufacturing sector in a specific period.