Exhibit 18-7 -The Information in Exhibit 18-7 Gives the 2011 Base Period

question 28

Multiple Choice

Exhibit 18-7

-The information in Exhibit 18-7 gives the 2011 base period market basket and prices used to construct the CPI for a small nation. It also has the 2016 prices. What is the value of the CPI for the period 2016?

• A)1.00
• B)1.40
• C)1.33
• D)0.71
• E)1.25

---

Definitions:

Mean Age

The average age of the individuals in a given population or sample.

Registered Voters

Individuals who have officially enrolled on an electoral roll, making them eligible to vote in elections.

Sampling Plan

A detailed strategy or methodology that outlines how samples will be taken from a population for the purpose of conducting research or quality control.

Sample Mean

The average value of a set of measurements or quantities collected from a sample.