If the Total Expenditures of a Typical Family Equaled $35,000

question 20

Multiple Choice

If the total expenditures of a typical family equaled $35,000 per year in 2015 and the exact same basket of goods and services cost $40,000 in the year 2017, the family's cost of living:

• A)increased by 14 percent.
• B)decreased by 12.5 percent.
• C)decreased by 14 percent.
• D)increased by 12.5 percent.

---

Definitions:

Skateboard

A small, narrow platform with wheels attached to its underside, used for riding as a sport or leisure activity.

Watch

A timepiece worn typically on the wrist, designed to keep and indicate time.

Symbols

Objects, figures, or colors used to represent ideas, concepts, or other aspects of human culture or identity.

Social Learning Theory

A theory that suggests people learn from their environment, through observation, imitation, and modeling.