Suppose That a Price Index for a Certain Basket of Goods

question 57

Multiple Choice

Suppose that a price index for a certain basket of goods and services has a value of 150 in 2015 and a value of 156 in 2016.This index suggests that the cost of the market basket of goods and services

• A)was 4% higher in 2016 than in 2015.
• B)was 6% lower in 2016 than in 2015.
• C)was 6% higher in 2016 than in 2015.
• D)was 156% higher in 2016 than in 2015.
• E)was approximately the same in 2016 and 2015.

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Definitions:

Eukarya

One of the three domains of life, comprising organisms with complex cells containing a nucleus, such as plants, animals, fungi, and protists.

Bacteria

Single-celled microorganisms that can be found in almost every environment on Earth, playing roles in decomposition, nitrogen fixation, and more.

Classification Categories

Levels of organization used in the systematic grouping of organisms, including species, genus, family, etc.

Response Variable

The variable in an experiment that is expected to change in response to manipulations of the independent variable.