Assume That the Consumer Price Index for 2009 Was 103

question 380

Multiple Choice

Assume that the consumer price index for 2009 was 103.9 and for 2010 was 107.6. What was the inflation rate between the two years?

• A)0.97%
• B)1.04%
• C)3.56%
• D)3.70%

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Definitions:

Revised Article 3

refers to updates or modifications made to Article 3 of a specific statute or code, which often deals with negotiable instruments like checks and promissory notes.

Indorsement

The act of signing the back of a negotiable instrument, such as a check, thus transferring the rights to another party.

Indorsee

A person or entity to whom the rights under a negotiable instrument, such as a check or promissory note, have been legally transferred.

Enforce

To compel observance of or compliance with a law, rule, or obligation.