Assume in Base Year 1990,the Index for the Volume of Exports

question 6

Multiple Choice

Assume in base year 1990,the index for the volume of exports is equal to 100,and we find that,for the 2004 fiscal year,the US price index for exports has fallen 6 percent,the price index for imports has risen by 9 percent,and the index for the volume of exports is 108 for 2004.What is the value of the U.S.income terms of trade?

• A)93.1
• B)89.7
• C)88.6
• D)63.4

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Definitions:

Seriation

The concrete operation that involves ordering stimuli along a quantitative dimension (such as length).

Horizontal Décalage

The observation that within Piaget’s stages of cognitive development, some abilities do not appear simultaneously but develop sequentially over time.

Personal Fable

A concept in adolescent development where an individual believes that their thoughts, feelings, and experiences are unique and not understood by others.

Hypothetical-Deductive Reasoning

Piaget’s formal operational concept that adolescents have the cognitive ability to develop hypotheses about ways to solve problems and can systematically deduce which is the best path to follow in solving the problem.