Table 24-7

question 343

Multiple Choice

Table 24-7. 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.
-Refer to Table 24-7. Which of the following scenarios is consistent with this statement? "The rate of inflation was 23.75 percent for 2011."

• A)The price of a hot dog was $2.44 rather than $3.30 in 2010, with other prices in the table remaining fixed.
• B)The price of a hot dog was $4.22 rather than $3.63 in 2011, with other prices in the table remaining fixed..
• C)The price of a hamburger was $3.80 rather than $5.50 in 2010, with other prices in the table remaining fixed.
• D)The price of a hamburger was $6.60 rather than $5.61 in 2011, with other prices in the table remaining fixed.

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Definitions:

Prefrontal Cortex

The part of the brain located at the front of the frontal lobe, associated with decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Cognitive Rigidity

The inability or unwillingness to change one's thinking or to adapt one's thoughts to new information or situations.

Manic

Relating to or affected by mania, a mental state characterized by excessive excitement, energy, and sometimes delusions or hallucinations.

Powerful

Having great power, influence, or effect; capable of causing significant change or impact.