If the CPI Was 110 This Year and 100 Last

question 113

Multiple Choice

If the CPI was 110 this year and 100 last year,then

• A)the cost of the CPI basket of goods and services increased by 10 percent this year.
• B)the price level increased by 110 percent this year.
• C)the inflation rate for this year was 10 percent higher than the inflation rate for last year.
• D)All of the above are correct.

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Definitions:

Kickbacks

Illegal or unethical payments made in return for favors or services in business transactions, often seen as a form of bribery.

Utilitarianism

A personal moral philosophy that focuses on “the greatest good for the greatest number” by assessing the costs and benefits of the consequences of ethical behavior.

Business Intelligence

The technologies and strategies a business employs to analyze data related to its operations, aiming to improve decision-making and performance through actionable insights.

Corruption

The abuse of entrusted power for private gain, which can occur in both the public and private sectors.