When the Consumer Price Index Is Computed, the Base Year

question 192

True/False

When the consumer price index is computed, the base year is always the first year among the years being considered.

---

Definitions:

Promisee

The party in a contract to whom a promise is made by another party (the promisor), and who stands to benefit from the fulfillment of that promise.

State Common Law

The body of law developed through court decisions and precedent, as opposed to laws enacted by a legislative body, within a particular state.

Article 2

A portion of the Uniform Commercial Code that deals specifically with the sale of goods.

Statute

A written law passed by a legislative body at both the federal and state levels, intended to prescribe or prohibit certain actions.