For an Imaginary Economy, the Consumer Price Index Was 62

question 347

Multiple Choice

For an imaginary economy, the consumer price index was 62.50 in 2004, 100.00 in 2005, and 160.00 in 2006. Which of the following statements is correct?

• A)If the basket of goods that is used to calculate the CPI cost $80 in 2004, then that basket of goods cost $128 in 2005.
• B)If the basket of goods that is used to calculate the CPI cost $90 in 2005, then that basket of goods cost $150 in 2006.
• C)The overall level of prices increased by 97.5 percent between 2004 and 2006.
• D)All of the above are correct.

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Definitions:

Standard Temperature

A baseline temperature used in scientific calculations, typically defined as 0°C or 273.15K.

Nonferrous Electrical Wire

A type of wire made from metals other than iron and steel, commonly used in electrical wiring due to its superior conductivity and resistance to corrosion.

MEGGER

A registered name by Biddle Industries. A high-voltage tester used for testing conductor insulation.

Metallic Conduit

Metallic conduit is a metal pipe or tubing designed to protect electrical wiring and cables, providing a secure pathway and shielding them from damage.