Refer to Table 8

question 49

Multiple Choice

$$\begin{array}{l}\begin{array} { | c | c | } \hline \text { Good } & \begin{array} { c } \text { Price Increase since } \\\text { Last Year }\end{array} \\\hline \text { Amusement park tickets } & 5.0 \% \\\hline \text { Bowling balls } & 4.2 \% \\\hline \text { Camouflage neckties } & 3.1 \% \\\hline\end{array}\\\text { Table } 8.1\end{array}$$ Refer to Table 8.1,which gives hypothetical data on price changes for three goods.If the overall rate of inflation in the economy was 3.5%,what happened to the real price of amusement park tickets?

• A) The real price of amusement park tickets rose by 1.5%.
• B) The real price of amusement park tickets rose by 8.5%.
• C) The real price of amusement park tickets rose by 5.0%
• D) The real price of amusement park tickets fell by 1.5%.

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Definitions:

Quick Ratio

A measure of a company's ability to meet its short-term obligations using its most liquid assets, calculated as (Current Assets - Inventory) / Current Liabilities.

Credit Risk

The risk of loss due to a borrower's failure to make payments on any type of debt.

FOB Destination

A shipping term indicating that the seller is responsible for the cost of transporting goods to the buyer's designated location; ownership transfers upon delivery.

Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.