In 1972,one Could Buy a Bag of Chips,a Pound of Hamburger,a

question 113

Multiple Choice

In 1972,one could buy a bag of chips,a pound of hamburger,a package of buns,and a small bag of charcoal for about $2.50.If the same goods today cost $6.00,then which pair of CPIs would make the cost in today's dollars the same for both years?

• A)60 in 1972 and 150 today
• B)65 in 1972 and 156 today
• C)75 in 1972 and 160 today
• D)90 in 1972 and 145.8 today

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Definitions:

LLLP

stands for Limited Liability Limited Partnership, a form of partnership that combines the elements of limited partnerships and limited liability partnerships, providing limited liability to all its partners.

General Partner

A member of a partnership who has unlimited personal liability for the debts and obligations of the partnership, and who has the authority to act on behalf of the partnership in management matters.

Limited Partnership

A form of partnership consisting of at least one general partner who manages the business and is personally liable for partnership debts, and one or more limited partners who provide capital and whose liability is limited to the amount of their investment.

Share of Loss

The portion of financial loss attributed to a participant in a business or investment venture, proportional to their stake or agreement terms.