Suppose That 1983 Is the Base Year for the Consumer

question 25

Multiple Choice

Suppose that 1983 is the base year for the Consumer Price Index (CPI) and in 2015 the CPI was 226.What does this "226" mean?

• A)What cost $100 in 1983 on average cost 226 times as much in 2015.
• B)What cost $100 in 1983 on average cost $226 more in 2015.
• C)What cost $100 in 1983 on average cost 100/226 (or 0.44)times as much in 2015 (that is,it will cost $22 in 2015).
• D)What cost $100 in 1983 on average cost $126 more in 2015.

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Definitions:

Ambiguous Prophecies

Predictions or statements that lack clarity and can be interpreted in multiple ways, often leading to confusion or diverse interpretations.

Psychics

Individuals who claim to have abilities beyond natural or scientific understanding, often including the ability to predict future events or communicate with the deceased.

Telepathy

The purported transmission of information from one person to another without using any of our known sensory channels or physical interaction.

ESP

Short for extrasensory perception, the supposed ability to gain information without using the known five senses.