Suppose the Consumer Price Index Was 100 in the Year

question 52

Multiple Choice

Suppose the consumer price index was 100 in the year 2000 and 200 in the year 2010.If the nominal price of apples has increased from 100 to 150 over this period,the real price of apples has:

• A)fallen by 25 percent.
• B)fallen by 50 percent.
• C)risen by 50 percent.
• D)risen by 25 percent.

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Definitions:

General Knowledge

encompasses a broad range of information across various subjects and disciplines that an individual accumulates throughout life.

Echoic Memory

The sensory register that briefly holds mental representations of auditory stimuli.

Sensory Register

The part of the memory system that processes sensory information from the environment, holding it for a very short period.

Saccadic Eye Movements

Rapid, ballistic movements of the eyes that abruptly change the point of fixation from one location to another.