Table 6-5
This Table Pertains to an Economy with Only

question 163

Multiple Choice

Table 6-5
This table pertains to an economy with only two goods: books and calculators. The fixed basket consists of 5 books and 10 calculators.
$$\begin{array} { | l | c | c } \hline \text { Year } & \text { price of Bouks } & \text { price of Calculators } \\\hline 2011 & \$ 24 & \$ 8 \\\hline 2012 & \$ 30 & \$ 12 \\\hline 2013 & \$ 32 & \$ 15 \\\hline\end{array}$$
-Refer to the Table 6-5.Using 2012 as the base year,what is the consumer price index in 2011?

• A)78.22
• B)74.07
• C)77.78
• D)135.00

---

Definitions:

Preoperational

The stage in Piaget's theory of cognitive development in which children from about 2 to 7 years old develop memory and imagination, but do not yet think logically.

Formal Operational Thought

A stage of cognitive development in which individuals are able to think abstractly, reason logically, and manage problems systematically.

Logical

Pertaining to the use of reason and sound judgment in thinking or arguing.

Abstract

A brief summary of a research article, thesis, review, or other long report on a subject or project.