Table 6-5 The Table Below Pertains to an Economy with Only Two

question 38

Multiple Choice

Table 6-5
The table below pertains to an economy with only two goods-books and calculators. The fixed basket consists of 5 books and 10 calculators.

-Refer to Table 6-5. Using 2005 as the base year, what is the consumer price index?

• A)100 in 2005, 135 in 2006, and 155 in 2007
• B)100 in 2005, 270 in 2006, and 310 in 2007
• C)200 in 2005, 270 in 2006, and 310 in 2007
• D)200 in 2005, 540 in 2006, and 620 in 2007

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Definitions:

Stakeholder Social Responsibility

The duty and ethical obligation of an organization to consider and respond to the needs and interests of its stakeholders, including customers, employees, and the wider community.

Social Responsibility

The practice of acting ethically while understanding your actions are part of the larger, interactive picture of your workplace, community, and world.

Corporate Responsibility

The ethical obligation of a company to act in ways that benefit society and the environment, beyond its business interests.

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the costs of goods sold, representing the portion of sales that turns into profit.