If Inflation in Country a Exceeds Inflation in Country B

question 43

Multiple Choice

If inflation in country A exceeds inflation in country B, we can express the percentage change in the units of currency of country A per unit of currency of country B as:

• A)The inflation rate in country B - the inflation rate in country A
• B)The inflation rate in country A - the inflation rate in country B
• C)The inflation rate in country A times the inflation rate in country B
• D)The inflation rate in country A ¸ the inflation rate in country B

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Definitions:

Estopped

Barred, impeded, or precluded.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise when the other party has relied upon it to their detriment.

Preexisting Duty

An obligation or duty that already exists under contract law and does not constitute valid consideration for a new agreement.

Rescission

The act of canceling, voiding, or annulling a contract, returning the parties to their positions prior to the contract.