In the Basket of Goods That Is Used to Compute

question 167

Multiple Choice

In the basket of goods that is used to compute the consumer price index,which of the following categories of consumer spending is the largest?

• A)education & communication
• B)recreation
• C)medical care
• D)All of the above categories are about equal in magnitude.

---

Definitions:

Multiplicative Inverse

Another term for reciprocal; a number which, when multiplied by the original number, yields the multiplicative identity (1).

Negative Integer

An integer less than zero, represented by a negative sign (-) in front of a positive number.

Distributive Property

A property in mathematics that allows you to multiply a sum by multiplying each addend separately and then adding the products.

Exponential Expression

An expression that involves an exponent, indicating how many times the base is multiplied by itself.