Table 24-6 The Table Below Pertains to Napandsnack, an Economy in Which

question 38

Multiple Choice

Table 24-6
The table below pertains to Napandsnack, an economy in which the typical consumer's basket consists of 2 pillows and 15 hotdogs.
-Refer to Table 24-6. If the base year is 2011, then the CPI

• A)increased from 2009 to 2010 and increased from 2010 to 2011.
• B)increased from 2009 to 2010 and decreased from 2010 to 2011.
• C)decreased from 2009 to 2010 and increased from 2010 to 2011.
• D)decreased from 2009 to 2010 and decreased from 2010 to 2011.

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Definitions:

Revenues

The total income generated by a company from its business activities, typically from the sale of goods or services before any expenses are subtracted.

Expenses

Outflows of resources or incurrences of liabilities that a company undergoes as part of its operations to generate revenue.

Drawings

It refers to the amount of money or the value of goods taken from the business by the owner for personal use.

Withdrawal Of Cash

The act of taking out cash from a business by the owners for personal use.