The Country of Old Jersey Produces Milk and Butter,and It

question 41

Multiple Choice

The country of Old Jersey produces milk and butter,and it has published the following macroeconomic data,where quantities are in gallons and prices are dollars per gallon:
$$\begin{array} { l c c c c } & 2001 & &{ 2002 } \\\hline \text { Good } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Milk } & 500 & \$ 2 & 900 & \$ 3 \\\text { Butter } & 2000 & \$ 1 & 3000 & \$ 2 \\\hline\end{array}$$
Between 2001 and 2002,the percent change in the price level as measured by a fixed-weight index that uses production in 2001 as the fixed "basket" of goods was

• A)60.00%.
• B)81.25%.
• C)83.33%.
• D)123.08%.

---

Definitions:

Prenatal Nutrition

The dietary and nutritional intake and considerations for a woman during pregnancy, affecting both the mother's and the developing fetus's health.

Genetic Abnormalities

Variations or mutations in genes that can lead to diseases, disorders, or physical abnormalities.

Flynn Effect

The observed substantial and long-term increase in both fluid and crystallized intelligence test scores measured in many parts of the world over the 20th century.

IQ Scores

Standardized scores derived from intelligence tests that measure a person's cognitive abilities in relation to their age group.