The Table Below Shows Hypothetical Prices for a Particular Anatomy

question 139

Multiple Choice

The table below shows hypothetical prices for a particular anatomy textbook at a university bookstore over several years.
TABLE 2-4
-Refer to Table 2-4.Assume that 2012 is used as the base year,with the index number = 100.The value of the index number in 2015 is calculated as follows:

• A)215/180 = 1.194.
• B)180/215 = 0.837.
• C)(215/180)× 100 = 119.4.
• D)(180/215)× 100 = 83.7.
• E)(215 - 180)= 35.

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Definitions:

Real Balances Effect

The change in consumption and savings behavior resulting from an alteration in purchasing power due to inflation or deflation.

Financial Assets

Economic resources or ownership rights that are intangible and represent a claim to future payments, such as stocks, bonds, or bank deposits.

Aggregate Supply Curve

A graph showing the relationship between the total quantity of goods and services that producers are willing to supply at different price levels.

Cyclical Unemployment

Unemployment that results from business cycle fluctuations in the economy, typically increasing during recessions and decreasing during expansions.