The Percentage Change in Any Economic Variable,including the Consumer Price

question 159

Multiple Choice

The percentage change in any economic variable,including the consumer price index (CPI) ,is measured by which equation?

• A) ((Previous Year - Current Year)/ Previous Year)*100
• B) ((Current Year - Previous Year)/ Previous Year)* 100
• C) ((Current Year - Previous Year)/ Current Year)*100
• D) (Previous Year - Current Year)/ Previous Year
• E) (Current Year - Previous Year)/ Previous Year

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Definitions:

Conservation of Volume

A cognitive ability in child development where the understanding that volume remains unchanged even when its shape changes is recognized.

Egocentrism

The inability to differentiate between oneself and other people, often characterized by a lack of empathy and an overemphasis on one's own perspective.

Cross-modal Transference

The ability to transfer sensory information from one modality to another, such as identifying objects by touch that have only been seen before.

Tertiary Circular Reactions

The fifth stage in Piaget's sensorimotor stage of cognitive development, occurring from about 12 to 18 months of age, where infants explore the environment and understand causality through trial and error.