Table 11-5
the Table Below Pertains to Napandsnack, an Economy

question 374

Multiple Choice

Table 11-5
The table below pertains to Napandsnack, an economy in which the typical consumer's basket consists of 2 pillows and 15 hotdogs. $$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Price of a } \\\text { pilldw }\end{array} & \begin{array} { c } \text { Price af a } \\\text { Hotdlog }\end{array} \\\hline 2009 & \$ 40 & \$ 3 \\\hline 2010 & \$ 45 & \$ 4 \\\hline 2011 & \$ 50 & \$ 3 \\\hline\end{array}$$
-Refer to Table 11-5. If the base year is 2010, then the consumer price index was

• A)83.33 in 2009, 100.00 in 2010, and 96.67 in 2011.
• B)85.56 in 2009, 100.00 in 2010, and 102.22 in 2011.
• C)85.56 in 2009, 100.00 in 2010, and 96.67 in 2011.
• D)92.22 in 2009, 99.00 in 2010, and 95.22 in 2011.

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Definitions:

Trial Balance

A bookkeeping report that lists the balances of all ledger accounts to verify that total debits equal total credits.

Asset

An economic resource owned or controlled by an individual or entity that is expected to produce future benefits.

Service Revenue

Income earned by a company for the services it has provided to its customers.

Bank Loan Payable

Bank Loan Payable is the amount owed by a borrower to a bank, typically represented as a liability on the borrower's balance sheet.