For a Given Year, an Index Number of Average Prices

question 10

Multiple Choice

For a given year, an index number of average prices (such as 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)average price of several goods in the base year to that in the given year.
• C)average price of all goods in the given year to that in the base 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:

Axillary Artery

A major blood vessel that carries oxygenated blood to the lateral aspect of the torso, armpit, and upper limb.

Median Cubital Artery

The median cubital artery is a superficial blood vessel in the elbow region that connects the cephalic and basilic veins and is often used for venipuncture.

Ulnar Artery

The artery that runs along the side of the forearm that is closest to the body when in an anatomical position, supplying blood to the forearm and hand.

Major Arterial Vessel

A major arterial vessel is a large artery that carries oxygen-rich blood away from the heart to various parts of the body.