Assuming a Price Index Calculated 104

question 24

Multiple Choice

Assuming a price index calculated 104.5 in 2008,compared with 100 in 2007,for a bundle of goods,what is the current purchasing power of every dollar,compared to 2007?

• A) 95.5 cents in every dollar, on average
• B) 95.69 cents in every dollar, on average
• C) 96.5 cents in every dollar, on average
• D) $1.045 in every dollar, on average

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Definitions:

Temple-pyramid

A monumental structure combining aspects of both temples and pyramids, often found in ancient Mesoamerican architecture.

La Venta

An ancient Olmec civilization site located in present-day Mexico, known for its colossal stone heads and considered a major center of Olmec culture.

Sacred Mountain

A mountain or hill considered holy or spiritually significant in various religions and cultures, often the site of pilgrimages and rituals.

West Mexico

A region notable for its archaeological sites, including shaft tombs and characteristic figurines, reflecting the area's pre-Columbian cultures.