Suppose That the CPI Today Is 120 and That It

question 104

True/False

Suppose that the CPI today is 120 and that it was 80 five years ago. Then, in today's prices something that cost $1 five years ago now costs $1.50.

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Definitions:

Constitutional Convention

A meeting held with the purpose of writing or amending a constitution. In the U.S. context, it refers to the 1787 convention where the Constitution was framed.

Federalists

Supporters of the ratification of the U.S. Constitution, who advocated for a strong national government.

Constitutional Amendment

A change or addition to the constitution, usually requiring a significant agreement process by legislatures and sometimes the public.

James Madison

Known as the "Father of the Constitution" for his pivotal role in drafting and promoting the United States Constitution and the Bill of Rights.