The Reference Base Period Is 2002

question 90

Multiple Choice

The reference base period is 2002.A consumer price index of 122 in 2018 means that

• A)prices of consumer goods have more than doubled.
• B)the average of the prices paid by urban consumers for a fixed market basket of consumer goods and services was 22 percent higher in 2018 than it was on average during 2002.
• C)the market basket of consumer goods that cost $122 in 2002 can be purchased for $100 in 2018.
• D)if the price of a good was $100 in 2002, its price in 2018 is $122.
• E)prices of consumer goods have gone up by a factor of 12.2.

---

Definitions:

Moderate Conflict

A level of disagreement or discord that is manageable and not excessively disruptive.

Problem Solving

Problem solving involves identifying an issue and finding an effective solution through critical thinking and creativity.

Mediation Strategy

A method used to resolve disputes by involving a neutral third party to help achieve consensus without imposing a decision.

Mediator Bias

The tendency of a mediator to favor one side over the other, which can affect the impartiality of the mediation process.