Refer to the Information Provided in Table 22

question 6

Multiple Choice

Refer to the information provided in Table 22.6 below to answer the question(s) that follow.
Table 22.6
-Refer to Table 22.6. If 2014 is the base year, the inflation rate between 2014 and 2015 is

• A) 12.4%.
• B) 17.6%.
• C) 19.1%.
• D) 23.2%.

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Definitions:

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, using fewer resources.

Specialize

To concentrate on a particular area of study, work, or production, often to gain higher proficiency or efficiency.

Shirt

A shirt is a garment covering the upper body, with sleeves and typically a collar and buttons down the front, worn by both men and women.

Pie

A metaphorical representation of a total market or economy, which can be divided among participants.