The Stock Market Index Decreased This Month by One-Thirteenth of Last

question 17

Multiple Choice

The stock market index decreased this month by one-thirteenth of last month's index. If this month's index is 2,400, what was last month's index?

• A) 2,585
• B) 2,320
• C) 2,483
• D) 2,600
• E) 2,215

---

Definitions:

Increase in Supply

A situation where the quantity of a good or service that producers are willing and able to sell, at a given price, rises.

Decrease in Supply

A situation where the quantity of a good or service that producers are willing to offer for sale at a given price level decreases.

Decrease in Demand

A reduction in the quantity of a good or service that consumers are willing and able to purchase at a given price range.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.