Table 11-12

question 329

Multiple Choice

Table 11-12. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below.
-Refer to Table 11-12. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,750. Then x, the consumer price index for 2011, has a value of

• A)184.0.
• B)185.8.
• C)187.5.
• D)189.4.

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Definitions:

Net Exports

The difference between what a country sells to others and what it buys, represented by exports minus imports.

Goods And Services

The products (goods) and activities (services) that are produced and provided to satisfy consumers' wants and needs.

Trade Balance

The difference between the monetary value of a nation's exports and imports over a certain period, indicating a surplus if exports exceed imports or a deficit otherwise.

Exports

Goods or services that are produced in one country and sold to buyers in another, contributing to the exporting country's economy.