For a Given Year,an Index Number of Average Prices Across

question 90

Multiple Choice

For a given year,an index number of average prices across the economy (in Canada,the Consumer Price Index) is the ratio of the

• A)price of several goods in the given year to that in the base year.
• B)simple average price of all goods in the given year to that in the base year.
• C)average price of several goods in the base year to that in the given year.
• D)weighted prices of a typical bundle of goods purchased in a given year to that in the base year.
• E)weighted prices of a typical bundle of goods purchased in the base year to that in the given year.

---

Definitions:

Neoliberal

Relating to a modern politico-economic theory favoring free-market capitalism, deregulation, and reduction in government spending.

Capital Accumulation

The process of acquiring and increasing amounts of capital or assets, often by businesses or individuals, to generate wealth.

Financial Institutions

Entities such as banks, credit unions, and insurance companies that provide financial services including loans, deposits, investments, and currency exchange.

Monopolization

The process or state in which a single entity gains exclusive control over a commodity, market, or service.