Suppose the Value of the CPI Is 1

question 125

Multiple Choice

Suppose the value of the CPI is 1.100 in year one, 1.160 in year two, and 1.270 in year three.Assume also that the price of computers increases by 3% between year one and year two, and by another 3% between year two and year three.The price level is increasing, the inflation rate is _______, and the relative price of computers is _________.

• A)increasing; increasing
• B)constant; increasing
• C)constant; decreasing
• D)increasing; decreasing

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Definitions:

Navigator

An individual or tool that provides guidance in navigating through complex systems or processes, often used in administrative, technological, or informational contexts.

Members-only Agreements

Contracts or arrangements between organizations, particularly unions, and their members, which specify terms, benefits, and conditions exclusive to the membership.

Nonmajority Union

A labor union that represents a portion, but not the majority, of employees in a workplace, often lacking collective bargaining rights.

Just Cause Dismissal

Termination of employment based on a legitimate and substantial reason as defined by law or contract.