If the Average Price Level Rises from 105 to 110,then

question 91

True/False

If the average price level rises from 105 to 110,then the inflation rate is 5%.

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Definitions:

Life Insurance

A contract between an insurer and a policyholder, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Auto Insurance

A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident.

Federal Government

The national government of a federated state, which holds the authority to govern the issues that affect the entire country.

Health Insurance

A form of insurance that covers the cost of an insured individual's medical and surgical expenses.