(Table) the Associated Table Provides a Hypothetical Bundle of Goods

question 83

Multiple Choice

(Table) The associated table provides a hypothetical bundle of goods. If 2014 is selected as the base year, the value of the CPI in 2017 would be: $$\begin{array} { | l | c | c | c | c | c | c | } \hline \text { Product } & \mathbf { Q } _ { 2010 } & \mathbf { Q } _ { 2014 } & \mathbf { Q } _ { 2017 } & \mathbf { P } _ { 2010 } & \mathbf { P } _ { 2014 } & \mathbf { P } _ { 2017 } \\\hline \text { Apples (5-lb. bag) } & 10 & 11 & 12 & \$ 3.00 & \$ 4.00 & \$ 4.25 \\\hline \text { Coffee beans (1-lb. bag) } & 50 & 50 & 55 & \$ 8.00 & \$ 9.00 & \$ 10.00 \\\hline \text { Cereal (28-oz. box) } & 20 & 25 & 29 & \$ 3.50 & \$ 3.75 & \$ 3.75 \\\hline\end{array}$$

• A) 100.00.
• B) 108.98.
• C) 88.50.
• D) 105.00.

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Definitions:

James Marcia

A psychologist notable for his work on adolescent development, specifically his theory on identity achievement and identity statuses.

Crisis

A time of intense difficulty, trouble, or danger, requiring a decision that can result in significant change.

Identity

The characteristics, values, and beliefs that define an individual or group and distinguish them from others.

Internalization

The process by which individuals absorb and integrate the values, norms, and regulations of society or a group into their own behavior and understanding.