If Year 1 Equals $780, Year 2 Equals $819, and Year

question 212

Multiple Choice

If Year 1 equals $780, Year 2 equals $819, and Year 3 equals $896, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is

• A) 95%.
• B) 115%.
• C) 105%.
• D) 109%.

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Definitions:

Curve

In economics, it typically refers to a graphical representation of the relationship between two variables.

Positively Related

A relationship between two variables where an increase in one variable leads to an increase in the other variable.

Council Of Economic Advisers

A team of economic advisors who provide counsel on economic policy to the President of the United States.

Congressional Budget Office

A nonpartisan federal agency within the legislative branch of the United States government that provides budget and economic information to Congress.