If the Consumer Price Index Were 301 in 1983 and 311

question 37

Multiple Choice

If the consumer price index were 301 in 1983 and 311 in 1984 based on an index of 100 for 1967, then it could be concluded that

• A) inflation and prices were both high relative to 1967 inflation of about 4 percent and 1967 prices, respectively.
• B) inflation was high, relative to a comfortable rate of 4 percent, but prices were not especially high when the 15-year span from 1967 to 1983 is considered.
• C) inflation was low, relative to a comfortable rate of 4 percent, but prices were actually 311 percent higher than just 16 years before.
• D) inflation was low, relative to a comfortable rate of 4 percent, but prices were actually 211 percent higher than they were in 1967.
• E) none of the above.

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Definitions:

Precambrian Metamorphic Rocks

Rocks that were formed through metamorphism during the Precambrian era, before the emergence of a diverse life on Earth.

Paleozoic Rocks

Paleozoic rocks originated from the Paleozoic era, a significant geological time period marked by the development and diversification of early life forms, including the first fish, plants, and insects.

Precambrian Sedimentary Rocks

Sedimentary rocks formed during the Precambrian era, over 541 million years ago, before the abundance of complex life on Earth.

Upper Volcanic Unit

refers to the top layer of a volcanic formation, often characterized by the presence of solidified lava and volcanic rocks.