The Table Below Shows the Price Index for Zimbabwe Starting

question 359

Multiple Choice

The table below shows the price index for Zimbabwe starting in 2000. $$\begin{array} { | c | c | } \hline \text { Year } & \text { Price Index } \\\hline 2000 & 100.0 \\\hline 2001 & 173.4 \\\hline 2002 & 404.37 \\\hline 2003 & 1880.5 \\\hline 2004 & 8462.2 \\\hline 2005 & 28,586.6 \\\hline 2006 & 319,222.5 \\\hline\end{array}$$
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Which of the following statements correctly describe the behavior of prices in Zimbabwe?
i. The cost of the CPI basket increased.
iI. The inflation rate was 73.4 percent between 2000 and 2001.

• A) I only
• B) II only
• C) both I and II
• D) neither I nor II

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Definitions:

Statute Of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by the party to be charged, to prevent fraud and perjuries.

Oral Modification

An agreement to change the terms of a contract using spoken words rather than written documentation.

Unconscionable

A term describing a contract or practice that is unjust or extremely one-sided in favor of the party who has the superior bargaining power.

Definition

A precise explanation of the meaning of a word or phrase, often distinguishing it from similar concepts.