The Price of a McDonald's Hamburger in 1955 Was $0

question 100

Multiple Choice

The price of a McDonald's hamburger in 1955 was $0.15 when the price index was 27; if in 2011,it was $0.89 when the price index was 220,then the inflation-adjusted price of a McDonald's hamburger in 2011 was:

• A) almost exactly the same (within 10%).
• B) much higher (twice or more) than 2011's actual price.
• C) much lower (half or less) than 2011's actual price.
• D) a bit higher than 2011's actual price (1-1.99 times as much).
• E) a bit lower than 2011's actual price (0.51-0.90 times as much).

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Definitions:

Independent Variable

In an experiment, the variable that is manipulated or altered to observe its effect on the dependent variable.

Confound

To cause confusion by mixing up or failing to distinguish between different elements or variables.

Masked Variable

A variable that influences a study's outcome indirectly by affecting other variables, not easily identifiable.

Placebo

A substance with no therapeutic effect, used as a control in testing new drugs or used to induce psychological benefits purely through belief.