Table 13-19 -Refer to Table 13-19

question 146

Multiple Choice

Table 13-19
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal Average Hourly } \\\text { Earnings }\end{array} & \begin{array} { c } \text { CPI } \\( \mathbf { 1 9 8 2 - 1 9 8 4 } = \mathbf { 1 0 0 } ) \end{array} \\\hline 2011 & \$ 10 & 100 \\\hline 2012 & 10 & 105 \\\hline 2013 & 12 & 110\\\hline\end{array}$$
-Refer to Table 13-19.Looking at the table above,what is the rate of growth of the average price level from 2011 to 2012?

• A)1%
• B)2%
• C)3%
• D)4%
• E)5%

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Definitions:

Single Corporation

An individual business entity recognized by law as separate from its owners, possessing rights and responsibilities.

Same Industry

Pertains to businesses or entities that operate within the same sector or category of the economy, producing similar goods or services.

Risky

Involving or exposing someone to a possibility of loss or injury.

Random Walk Theory

The hypothesis that stock market prices evolve according to a random walk and thus cannot be predicted.