Suppose the Average Price of Gas in 2018 Was $1

question 103

Multiple Choice

Suppose the average price of gas in 2018 was $1.25 per litre and $1.30 in 2019. The inflation rate was 3 percent in 2019. What was the 2019 price of gas in 2018 dollars?

• A) $1.262
• B) $1.2875
• C) $1.339
• D) $1.350

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Definitions:

Computer Ownership

Indicates the possession or acquisition of computers by individuals or organizations, reflecting aspects of accessibility, literacy, and technological advancement.

Health-Care System

An organized plan of health services to meet the health needs of individuals or populations through various health professionals and resources.

Legislation Proposed

Refers to bills or laws that have been introduced to a legislative body for consideration and potential passing into law.

Tempers Flared

A phrase indicating that emotions, especially anger or frustration, have escalated in intensity among individuals.