Suppose That a Price Index for a Certain Basket of Goods

question 57

Multiple Choice

Suppose that a price index for a certain basket of goods and services has a value of 150 in 2015 and a value of 156 in 2016.This index suggests that the cost of the market basket of goods and services

• A)was 4% higher in 2016 than in 2015.
• B)was 6% lower in 2016 than in 2015.
• C)was 6% higher in 2016 than in 2015.
• D)was 156% higher in 2016 than in 2015.
• E)was approximately the same in 2016 and 2015.

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Definitions:

Afterlife

A concept referring to an existence or consciousness continuing after physical death.

Hindu

Pertaining to Hinduism, a major world religion originating in the Indian subcontinent, characterized by a variety of beliefs, practices, and cultural traditions.

Previous Existences

A belief or concept relating to the existence of an individual's soul or consciousness before their current life, often associated with religious or spiritual contexts.

Karma

The concept that actions have consequences that affect the future of an individual's life, as understood in Hinduism and Buddhism.