The Price of a McDonald's Hamburger in 1955 Was $0

question 54

Multiple Choice

The price of a McDonald's hamburger in 1955 was $0.15 when the price index was 27; if in 2011 it was $0.89 when the price index was 220,then adjusted for inflation,the price of a McDonald's hamburger in 2011 was

• A) almost exactly the same (within 10 percent)as in 1955.
• B) much higher (twice or more)than in 1955.
• C) much lower (half or less)than in 1955.
• D) a bit higher than in 1955.
• E) a bit lower than in 1955.

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Definitions:

Affirming Consequent

A logical fallacy where a conclusion is incorrectly inferred solely based on the truth of its consequent, despite lacking sufficient evidence.

Hypothetical Syllogism

A logical argument consisting of two conditional statements and a conclusion, based on the premise that if one condition is true, then a second condition must follow.

Modus Tollens

A form of logical argument where the denial of the consequent leads to the denial of the antecedent, symbolically represented as "If P then Q; not Q; therefore not P."

Hypothetical

Based on or serving as a hypothesis, suggesting a possible scenario or assumption for the sake of argument.