Suppose Total Expenditures for a Typical Household in 2008 Were

question 128

Multiple Choice

Suppose total expenditures for a typical household in 2008 were $2,000 per month and that the cost of purchasing exactly the same items in 2012 was $3,200 per month.If 2008 is the base year,the consumer price index (CPI) for 2012 equals

• A) 62.5.
• B) 100.
• C) 125.
• D) 148.
• E) 160.

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Definitions:

Catherine of Aragon

The first wife of Henry VIII of England and queen consort from 1509 to 1533, best known for her marriage's role in the start of the English Reformation.

Ignatius Loyola

Founder of the Society of Jesus (Jesuits), which was a significant force in the Counter-Reformation.

Catholic Reformation

A period of Catholic revival beginning in the late 16th century, in response to the Protestant Reformation, aiming to reform and renew the Roman Catholic Church.

Capuchins

An order of friars within the Catholic Church, known for their missionary work and simple lifestyle, identifiable by their distinct brown robes with large hoods.