Suppose the Price Index in 2004 Was 100;the Price Index

question 40

Multiple Choice

Suppose the price index in 2004 was 100;the price index in 2005 was 118;and the inflation rate between 2005 and 2006 was lower than it was between 2004 and 2005.This means that

• A)the price index in 2006 was lower than 118.00.
• B)the price index in 2006 was lower than 136.00.
• C)the price index in 2006 was lower than 139.24.
• D)the inflation rate between 2005 and 2006 was lower than 1.18 percent.

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Definitions:

Commute Time

The duration it takes for an individual to travel from their home to their place of work or study.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values; a low standard deviation indicates that the values tend to be close to the mean.

Quality Control

A process through which a business seeks to ensure that product quality is maintained or improved with either reduced or zero errors.

Unpopped Kernels

Corn kernels that remain hard and unexpanded after an attempt to pop them, usually due to insufficient heat.