Following Is Data for a Hypothetical Economy

question 134

Multiple Choice

Following is data for a hypothetical economy.The base year is 2002 (Price index = 100) . Refer to the above data.From 2003 to 2006, prices rose by:

• A)3 percent.
• B)7 percent.
• C)9 percent.
• D)10.7 percent.

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Definitions:

Develop

To undergo gradual growth or formation; often refers to the process of bringing new products, technologies, or ideas into existence.

Accumulated Degree Hours

A measure used in forensic entomology and agriculture to estimate the development stage of organisms by accumulating the degrees above a threshold temperature over time.

Larva

The juvenile form of an animal that undergoes metamorphosis, such as an insect or amphibian, typically different in form from the adult.

Develop

To undergo a process of growth, evolution, or unfoldment, becoming more mature, advanced, or elaborate.