Suppose a Basket of Goods and Services Has Been Selected

question 48

Multiple Choice

Suppose a basket of goods and services has been selected to calculate the CPI and 2002 has been chosen as the base year. In 2002, the basket's cost was $75.00; in 2004, the basket's cost was $79.50; and in 2006, the basket's cost was $85.86. The value of the CPI was

• A)100 in 2002.
• B)106 in 2004.
• C)114.48 in 2006.
• D)All of the above are correct.

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Definitions:

Favorite Author

A personal preference towards an author whose works are especially appreciated or admired by an individual.

Intrinsic Motivation

The drive to engage in activities for their own sake, out of interest or enjoyment, rather than for external rewards.

Own Sake

Doing something for its intrinsic value or enjoyment, rather than for an external reward or outcome.

Set Point

A theory suggesting that the body maintains its weight and energy balance through internal regulatory mechanisms.