Suppose Total Expenditures for a Typical Household in 2009 Were

question 177

Multiple Choice

Suppose total expenditures for a typical household in 2009 were $4,500 per month and that the cost of purchasing exactly the same items in 2012 was $6,975 per month.If 2009 is the base year,the consumer price index (CPI) for 2012 equals

• A) 65.
• B) 100.
• C) 121.
• D) 132.
• E) 155.

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Definitions:

Great Society

A collection of initiatives in the U.S. introduced by President Lyndon B. Johnson with the goal of eradicating poverty and racial inequality.

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A form of public disturbance involving an act of violence by a crowd of people in an urban area.

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The shortfall when a government's expenditures exceed its revenues within a given fiscal year.

Gideon v. Wainwright

A landmark case in which the U.S. Supreme Court ruled that the Sixth Amendment requires states to provide counsel in criminal cases for defendants unable to afford their own attorneys.