Table 11-6 -Refer to Table 11-6

question 217

Multiple Choice

Table 11-6. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. $$\begin{array} { l c c } \hline \text { Year } & \text { Priee of hamburegers } & \text { Prife of hat doges } \\\hline 2009 & \$ 5.00 & \$ 3.00 \\2010 & 5.50 & 3.30 \\2011 & 5.61 & 3.63 \\\hline\end{array}$$
-Refer to Table 11-6. If the base year is 2010, then the consumer price index is

• A)100 in 2009, 109 in 2010, and 115 in 2011.
• B)95.90 in 2009, 100 in 2010, and 107.44 in 2011.
• C)90.91 in 2009, 100 in 2010, and 106.36 in 2011.
• D)88.82 in 2009, 100 in 2010, and 107.44 in 2011.

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Definitions:

Maturity Date

The specified date on a financial instrument at which the principal (or final payment) is due to be paid.

Promissory Note

A financial document in which one party promises in writing to pay a determinate sum of money to another party under specific terms.

Principal

The face amount of the note.

Promissory Note

A written promise to pay a specified sum of money to a designated person at a fixed or determinable future time.