Use the Table Below to Answer the Following Questions

question 56

Multiple Choice

Use the table below to answer the following questions.
Table 21.3.1
Suppose a simple economy produces three goods only.
The price and output data for some selected years are shown below.

-Refer to Table 21.3.1.The reference base period is 2002.The CPI in 2012 is

• A)1,340.
• B)158.
• C)100.
• D)96.
• E)63.

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Definitions:

Simple Annual Interest Rate

The percentage of the principal amount that will be charged or earned as interest, calculated once per year without compounding.

Investment

The allocation of resources, such as capital, with the expectation of generating an income or profit.

Days

The measurement of time, specifically the period of time that constitutes a 24-hour day.

Interest

A fee applied to borrowed funds, usually calculated as a percent of the principal amount.