Table 24-2
the Following Table Pertains to Wiskancia, an Economy

question 131

Multiple Choice

Table 24-2
The following table pertains to Wiskancia, an economy in which the typical consumer's basket consists of 15 pounds of apples and 7 teddy bears.
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$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Price of Apples } \\\text { (Dollars per pound) }\end{array} & \begin{array} { c } \text { Price of Teddy bears } \\\text { (Dollars per toy) }\end{array} \\\hline 1 & 14 & 7 \\\hline 2 & 12 & 5 \\\hline 3 & 15 & 9 \\\hline\end{array}$$
-Refer to Table 24-2. If the base year is Year 1, then the CPI in Year 3 was

• A)120.5.
• B)-111.2.
• C)74.7.
• D)111.2.

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Definitions:

Judicial Lien

A lien obtained by a creditor upon a debtor's property, authorized by a judgment, decree, or court order.

Complex Adaptive

Systems that are able to adapt and evolve in response to changes in the environment.

Contingency Approaches

Management theories suggesting that the best way to handle any situation depends on the specifics of the environment and circumstances.

Normative Theories

Theories that provide guidelines or frameworks for understanding how media should operate in society based on ethical values and principles.