If the CPI This Year Is 162 and Last Year

question 49

Multiple Choice

If the CPI this year is 162 and last year it was 170,what do we know about the inflation rate this year?

• A)It is positive.
• B)It is negative.
• C)It has decreased since last year.
• D)It has increased since last year.
• E)It is the same as last year.

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Definitions:

United States

A country in North America comprising 50 states, a federal district, five major self-governing territories, and various possessions, known for its large economy and diverse population.

Tax Rate Structure

Tax Rate Structure refers to the system of taxing income, property, goods, or transactions at different rates, based on the amount, value, or type.

Tax Base

The total amount of assets or income that can be taxed by a government, forming the foundation for calculating taxes to be levied.

Payroll Taxes

Taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.