Between 2013 and 2014,the CPI of a Small Nation Rose

question 225

Multiple Choice

Between 2013 and 2014,the CPI of a small nation rose from 182 to 185.If household incomes rose by 3% during that period of time,which of the following is true?

• A)The purchasing power of household income rose between 2013 and 2014.
• B)The purchasing power of household income fell between 2013 and 2014.
• C)The purchasing power of household income remained constant between 2013 and 2014.
• D)The CPI cannot be used to determine how the purchasing power of household income changes over time.

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Definitions:

Learned Behavior

Behavior that individuals acquire through interaction with the environment and through the experience of or observing others in their social contexts.

Sociability

The trait of being inclined to engage in social interactions and form relationships with others.

Predominant Style

The most common or authoritative style or approach in a particular area or activity.

Intensity

The degree of strength, force, or energy with which an action is performed or an attribute is possessed.