The Price of a Basket of Groceries Rises from $30

question 147

Multiple Choice

The price of a basket of groceries rises from $30 to $40 but your salary remains the same. This is an example of a decline in which of the following for you, personally?

• A) standard of living
• B) purchasing power
• C) cost of living index
• D) GDP index

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Definitions:

Clutch Control

The mechanism or system that engages or disengages the engine from the drivetrain in a manual transmission vehicle.

Caterpillar CX

A series of industrial power transmission components, such as heavy-duty automatic transmissions, made by Caterpillar Inc. for various applications.

DMM

Digital Multimeter, an electronic measuring instrument that combines several measurement functions in one unit, such as voltage, current, and resistance.