Choose the One Alternative That Best Completes the Statement or Answers

question 71

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-A certain country's Consumer Price Index is approximated by $\mathrm { A } ( \mathrm { t } ) = 100 \mathrm { e } ^ { 0.024 \mathrm { t } }$ , where $\mathrm { t }$ represents the number of years. Use the function to determine the year in which costs will be $50 \%$ higher than in year 0.

• A) year 17
• B) year 19
• C) year 13
• D) year 15

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Definitions:

Budget Constraint

A representation of all the combinations of goods and services a consumer can afford to buy given their income and the prices of the goods.

Income

Regular payments or earnings received from labor or investments.

Nuts

Edible seeds enclosed in a hard shell, often used in the context of food and nutrition.

Berries

Little, fleshy fruits that are commonly fit for consumption, characterized by their juiciness, round appearance, vibrant hues, and a taste that may be either sweet or tart.