In 2013, the Reference Base Period for the CPI for the Nation

question 41

Multiple Choice

In 2013, the reference base period for the CPI for the nation of Wobet, a typical consumer spent $30 on potatoes and $150 on steak. Which of the following is true?

• A)We cannot say exactly how many of each good are in the basket.
• B)The quantity of the two goods in the basket is the same.
• C)The quantity of steak in the basket is larger than the quantity of potatoes.
• D)The quantity of potatoes in the basket is larger than the quantity of steak.
• E)None of the above answers is correct.

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Definitions:

Verbal Dispute

A disagreement or argument that arises from differences in the interpretation or understanding of words.

Factual Disagreement

A conflict or argument arising from differing beliefs or understandings about specific, verifiable information.

Different Ways

Various methods, approaches, or techniques used to achieve a goal or complete a task.

Universal Grammar

The theory in linguistics that suggests that the ability to acquire language is innate to humans and that all human languages share a common underlying structure.