Suppose a Basket of Goods and Services Has Been Selected

question 69

Multiple Choice

Suppose a basket of goods and services has been selected to calculate the CPI and 2009 has been selected as the base year.In 2007,the basket's cost was $64;in 2009,the basket's cost was $68;and in 2011,the basket's cost was $70.The value of the CPI in 2011 was

• A)97.14.
• B)100.10.
• C)102.94.
• D)109.38.

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Definitions:

Differential Piece Rate

A payment scheme where workers are paid based on the amount of work completed, with rates varying according to productivity levels.

Incentive Plan

A reward system used by companies to motivate and financially compensate employees based on achieving specific performance targets.

Organization's Goals

The objectives or targets a company aims to achieve, guiding its operations and strategic planning.

Retention Bonus

A financial reward offered to an employee as an incentive to remain with the company, underlining the organization's appreciation for their contribution.