In the CPI,what Is the Base Year

question 149

Multiple Choice

In the CPI,what is the base year?

• A)the year of the first basket, which was 1986
• B)the benchmark against which other years are compared
• C)the previous year
• D)the current year

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Definitions:

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which may not coincide with the calendar year.

Average Number

A value found by summing all numbers in a set and then dividing by the count of those numbers, representing a central or typical value in the set.

Maintenance Crew

A team responsible for keeping buildings, machinery, or equipment in working order through routine maintenance and repair.

Rate of Return

A rise or fall in an investment's worth over a certain period, denoted as a fraction of the investment's beginning cost.