If This Year the CPI Is 125 and Last Year

question 166

Multiple Choice

If this year the CPI is 125 and last year it was 120, what do we know?

• A) Most goods have become more expensive.
• B) The price level has increased.
• C) The inflation rate has increased.
• D) Some goods have become cheaper.

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Definitions:

Negotiable Instrument

A paper ensuring the payment of a certain sum of money, either upon request or at a predetermined time, with the document specifying the person responsible for payment.

Rights

Entitlements or freedoms that are guaranteed by law, tradition, or ethical principles, which allow individuals to perform certain actions or claim specific benefits.

Maker

In legal or financial contexts, the party that creates or issues a promissory note, check, or other negotiable instrument.

Pay

The compensation or wage given to an employee in exchange for their work or service.