What Does It Mean If the Purchasing Power in 1950

question 78

Multiple Choice

What does it mean if the purchasing power in 1950 was $4.15 relative to the 1982 base year?

• A)It took $4.15 in 1950 to buy what $1 bought in 1982.
• B)The average price level in 1982 was five times as high as in 1950.
• C)$4.15 in 1950 had the same nominal money value as $1 in 1982.
• D)It took $4.15 in 1982 to buy what $1 bought in 1950.
• E)Nominal prices have increased by more than 400 percent between 1950 and 1982, but the real value of money has not changed.

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Definitions:

Criticism Fear

Anxiety or apprehension about being judged or receiving negative feedback from others.

Fear Of Success

The fear that occurs when people who have not experienced much success in their lives feel they do not deserve it.

Success Feeling

The sense of achievement and positive emotion experienced when accomplishing personal or professional goals.

Criticism Fear

The unease or anxiety about being judged, disapproved of, or negatively evaluated by others.