The Table Shown Displays CPI Data for 2015 to 2019

question 12

Multiple Choice

The table shown displays CPI data for 2015 to 2019. What can be said about the cost of living in 2017?

• A) The typical consumer had to spend 5 percent more in 2017 than in 2016 in order to buy the same goods.
• B) The price of intermediate goods increased by 5 percent.
• C) The typical consumer could spend 5 percent less to maintain the same standard of living.
• D) None of these are true.

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Definitions:

Indicators

Measurable variables used to show the presence or state of a condition or trend.

Reliable

Reliable describes something or someone that consistently performs well or can be depended upon to provide accurate and trustworthy results.

Valid

The state of being logically or legally sound; having force, or binding force; effectively supporting a specified point or claim.

Variable

A characteristic or attribute that can vary or be changed, often used in research to measure or test hypotheses.