For the Following Question(s), Suppose an Economy Produces Only Pens

question 43

Multiple Choice

For the following question(s) , suppose an economy produces only pens and pencils, and that the quantity and price data is given by
this table: $$\begin{array} { | l | l | l | } \hline & \text { Pens } & \text { Pencils } \\\hline \text { Year 1 quantity } & 15 & 10 \\\hline \text { Year 1 price } & \$ 12 & \$ 12 \\\hline \text { Year 2 quantity } & 17 & 12 \\\hline \text { Year 2 price } & \$ 14 & \$ 15 \\\hline\end{array}$$
-What is the inflation rate using base year 1?

• A)25%
• B)15%
• C)13%
• D)10%
• E)20%

---

Definitions:

Emotional Support

Assistance provided through empathy, love, and care to help individuals emotionally.

Peers

Individuals who are at a similar level or position as others within a certain context, often referring to people of similar age, status, or ability.

Evaluate

The process of carefully examining something to judge its value, quality, importance, extent, or condition.

Working Mothers

Mothers who engage in workforce employment in addition to their duties of raising children and managing a household.