Suppose That in Year 1 the Respective Prices of Yogurt,candy

question 92

Multiple Choice

Suppose that in year 1 the respective prices of yogurt,candy bars,and popcorn are $1,$2,and $3.In year 2 the unit prices of each are $2,$3,and $4,respectively.Which of the following statements is true of the price level between year 1 and year 2?

• A)it doubled
• B)it increased by 33 percent
• C)it rose from $6 to $9
• D)it went up from 106 to 109
• E)it must have risen at a rate between 33 percent and 100 percent

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Definitions:

Liability

The legal responsibility for one's actions or omissions, potentially resulting in the requirement to compensate for damage or loss.

Constructive Trust

An equitable trust that is imposed in the interests of fairness and justice when someone wrongfully holds legal title to property.

Indemnification

A legal obligation to compensate for loss, damage, or liability incurred by another party.

Breach

The violation or breaking of a law, duty, or contractual obligation.