The Data in the Table Above Shows the Consumption by |

question 4

Multiple Choice

$$\begin{array} { | l | c | c | c | c | } \hline \text { Item } & \begin{array} { c } \text { Quantity } \\( 2011 ) \end{array} & \text { Price (2011) } & \begin{array} { c } \text { Quantity } \\( 2012 ) \end{array} & \text { Price (2012) } \\\hline \text { Magazines } & 400 & \$ 5.00 & 450 & \$ 4.50 \\\hline \text { Movie tickets } & 50 & \$ 6.00 & 200 & \$ 8.00 \\\hline \text { Pizzas } & 100 & \$ 10.00 & 120 & \$ 10.50 \\\hline\end{array}$$
The data in the table above shows the consumption by families in an economy. The year 2011 is the reference base period.
-Based on the table above, the CPI for 2012 is

• A)98.5.
• B)105.1.
• C)102.5.
• D)5.0 percent.
• E)100.

---

Definitions:

Federal Level

Pertaining to the national government, as opposed to state, local, or municipal levels of governance.

Government Actions

The measures and policies implemented by governmental bodies to influence economic, social, or political outcomes.

Communist Theory

A social, political, and economic ideology that aims at the establishment of a classless society where the means of production are owned communally.

Private Property

Legal rights that allow individuals or entities to own, use, and dispose of assets.