Use the Following to Answer Questions

question 272

Multiple Choice

Use the following to answer questions:
Scenario: Price Index
Suppose that in the base period a college student buys 20 gallons of gasoline at $2 per gallon, 2 CDs for $13 each, and 4 movie tickets for $7 each. In the next month, the price of gasoline is $2.25 per gallon, CDs cost $12.50 each, and the price of a movie ticket is $7.50.
-In the Republic of Sildavia, a market basket of goods and services cost $130 in 2009, $140 in 2010, and $160 in 2011. Based on this information and considering 2009 to be the base year, the price index in 2011 was:

• A)100.
• B)107.69.
• C)123.07.
• D)130.

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Definitions:

Social Shopping Portal

An online platform that combines e-commerce with social media features, allowing users to share and discover products through social interaction.

Video Endorsement

A promotional video where a person speaks in favor of a product, brand, or service, usually for marketing purposes.

Personal Story

A narrative shared by an individual about their own experiences, often used to connect with others on a personal level in various media.

Recommendation Indicators

Metrics or signals used to gauge the appropriateness or quality of a suggestion, aiding in decision-making processes.