Table 11-4
the Table Below Pertains to Wrexington, an Economy

question 82

Multiple Choice

Table 11-4
The table below pertains to Wrexington, an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys. $$\begin{array} { | c | c | c } \text { Year } & \begin{array} { c } \text { Price of } \\\text { Meat }\end{array} & \begin{array} { c } \text { Price of a } \\\text { Tryy }\end{array} \\\hline 2004 & \$ 3 \text { per pound } & \$ 2 \\\hline 2005 & \$ 1 \text { per pound } & \$ 7 \\\hline 2006 & \$ 4 \text { per pound } & \$ 5 \\\hline\end{array}$$
-Refer to Table 11-4. The inflation rate was

• A)negative in 2005 and negative in 2006.
• B)negative in 2005 and positive in 2006.
• C)positive in 2005 and negative in 2006.
• D)positive in 2005 and positive in 2006.

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Definitions:

Applied Science

A discipline that applies existing scientific knowledge to develop more practical applications, including technology or inventions, within fields such as engineering and medicine.

Engineering Research

Systematic, innovative investigation conducted to increase understanding of complex products or processes, aiming at developing new knowledge or technology.

Technological Advances

Innovations and improvements in technology that enable new products, improved processes, and greater efficiency across various industries and sectors.

Savings Rate

The percentage of money that individuals or entities save from their disposable income, often considered an indicator of economic health.