The Typical Family on the Planet Econ Consumes 10 Pizzas

question 67

Multiple Choice

The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk.In 2008, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon.In 2009, the price of pizzas increased to $14 each, while the price of jeans and milk remained the same.Between 2008 and 2009, a typical family's cost of living:

• A)increased by 9 percent.
• B)decreased by 9 percent.
• C)remained the same.
• D)increased by 40 percent.

---

Definitions:

Departmental Information

Departmental information involves data or records specific to a particular department within an organization, often used for internal planning, decision-making, and performance evaluation.

Annual Report

An exhaustive report prepared by a company's management detailing its operations and financial performance over the fiscal year, intended for shareholders and other stakeholders.

Footnotes

Detailed information provided at the bottom of financial statements to offer additional context, explanations, or breakdowns of the figures presented within the statements.

Uncontrollable Costs

Expenses that cannot be controlled or influenced by management in the short term.