The Table Below Shows Hypothetical Data for the Volume of Gold

question 102

Multiple Choice

The table below shows hypothetical data for the volume of gold and nickel output across several years. TABLE 2-5 Refer to Table 2-5.What is the index number for gold output in Year 8?

• A)111.9
• B)111.9%
• C)11.9
• D)11.9%
• E)1.119

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Definitions:

Consumption Function

A formula that expresses the relationship between total consumption and gross national income.

Standard Deviation

A statistic that measures the dispersion or variability of a dataset relative to its mean, used to quantify the amount of variation or dispersion of a set of values.

Aggregate Income

The total income earned by all factors of production in an economy, including wages, rents, interest, and profits.

Aggregate Consumption

The total amount of goods and services consumed in an economy, often used to analyze economic health and growth.