Suppose the Respective Prices of Yogurt,candy Bars,and Popcorn in Year

question 101

Multiple Choice

Suppose the respective prices of yogurt,candy bars,and popcorn in Year 1 are $1,$2,and $3.In Year 2,the unit prices of each are $2,$3,and $4 respectively.Which of the following statements is true of the price level between Year 1 and Year 2?

• A)It decreased by 20 percent.
• B)It increased by 33 percent.
• C)It increased from $6 to $9.
• D)It decreased at a rate between 20 percent and 50 percent.
• E)It increased at a rate between 33 percent and 100 percent.

---

Definitions:

Market Value

The current price at which an asset or service can be bought or sold in the open market.

Purchase Price

The purchase price is the amount of money paid to buy an asset, product, or service.

Ethically

Acting in ways considered morally right and professionally appropriate according to standards of conduct.

Consequences

The results or effects that stem from specific actions, decisions, or policies, which can be positive, negative, or neutral.