If the Price of Clothing (Which Accounts for 5% of Total

question 19

Multiple Choice

If the price of clothing (which accounts for 5% of total expenditures in the CPI basket) , rises by 10% in one year while the prices of all other goods remain constant, by how much will the CPI rise?

• A)0.5%
• B)5%
• C)10%
• D)50%

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Definitions:

Tutor

A person who provides individual or small group instruction in a specific subject or skill, often supplementing formal education.

Managerial

Pertaining to the activities, responsibilities, and skills involved in managing an organization or part of it.

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Factors such as inflation, exchange rates, economic growth, and governmental policy that affect the business environment and economic performance.

Domino's

A multinational pizza restaurant chain known for its wide variety of pizza options and fast delivery services.