This Table Shows the Values of the Canadian Consumer Price

question 117

Multiple Choice

This table shows the values of the Canadian consumer price index (CPI) for the years 1998 - 2005.

-Using the data in the table above,the rate of inflation between 2004 and 2005 was

• A) 1.21%.
• B) 1.76%.
• C) 2.15%.
• D) 2.20%.
• E) 2.34%.

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Definitions:

Total Revenue

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

Total Cost

The overall amount of money spent on production, which includes both fixed and variable expenses.

Market Price

The prevailing market rate at which a service or asset is offered for purchase or sale.

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, that sells goods or services in exchange for money.