Last Year the Consumer Price Index (CPI)was 115 and This

question 232

Multiple Choice

Last year the consumer price index (CPI) was 115 and this year's CPI is 125.The rate of inflation is:

• A) 8.7%.
• B) 8%.
• C) 9.2%.
• D) 10.8%.

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Definitions:

Quasi-Contract

A court-imposed contractual obligation to prevent unjust enrichment.

Unjustly Enriched

A legal term describing a situation where an individual unjustly benefits at another's expense, potentially requiring restitution.

Plaintiff

The party who initiates a lawsuit against another party, known as the defendant, in a court of law.

Liquidated Damages

A set amount of money that is required to be paid as compensation for not fulfilling contractual obligations.