During a Certain Year, the Consumer Price Index Increased from 150

question 86

Multiple Choice

During a certain year, the consumer price index increased from 150 to 159 and the purchasing power of a person's bank account increased by 3.5 percent. For that year,

• A)the nominal interest rate was 6 percent.
• B)the nominal interest rate was 9.5 percent.
• C)the inflation rate was 3.5 percent.
• D)the inflation rate was 9.5 percent.

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