A Part of the CPI Is Given Below Suppose a Week's Groceries in 1980 Cost $70

question 8

Multiple Choice

A part of the CPI is given below: $$\begin{array} { l | l | l | l | l | l } \text { Year } & 1975 & 1980 & 1985 & 1990 & 1995 \\\hline \text { CPI } & 53.8 & 82.4 & 107.6 & 130.7 & 152.4\end{array}$$ Suppose a week's groceries in 1980 cost $70. What would these groceries cost, to the nearest dollar, 10 years later?

• A) $38
• B) $44
• C) $111
• D) $129

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Definitions:

Corporation

A legal entity created under state law, recognized as separate from its owners, with its own rights, privileges, and liabilities.

Alien Corporation

A corporation formed in another country but doing business in the United States.

Domestic Corporation

In a given state, a corporation that is organized under the law of that state.

Corporate Veil

A legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for the company's debts and other obligations.