For a Given Year,an Index Number of Average Prices Across

question 90

Multiple Choice

For a given year,an index number of average prices across the economy (in Canada,the Consumer Price Index) is the ratio of the

• A)price of several goods in the given year to that in the base year.
• B)simple average price of all goods in the given year to that in the base year.
• C)average price of several goods in the base year to that in the given year.
• D)weighted prices of a typical bundle of goods purchased in a given year to that in the base year.
• E)weighted prices of a typical bundle of goods purchased in the base year to that in the given year.

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Definitions:

Constructive Information

Constructive information refers to knowledge that one is presumed by law to have, often because it is a matter of public record or because one should have discovered it by due diligence.

Specific Performance

A legal remedy requiring a party to perform their part of a contract, rather than paying damages for not fulfilling the contract.

Computer Program

A computer program is a set of instructions that a computer follows to perform specific tasks or operations, written in a programming language.

Indemnification

The act of compensating for loss or damage, often seen in contracts where one party agrees to protect the other against certain future claims or liabilities.