Assume That the Market Basket of Goods and Services Purchased

question 106

Multiple Choice

Assume that the market basket of goods and services purchased in 2004 by the average family in Canada costs $14,000 in 2004 prices,whereas the same basket costs $21,000 in 2009 prices.However,the basket of goods and services actually purchased by the average family in 2009 costs $20,000 in 2009 prices,whereas this same basket would have cost $15,000 in 2004 prices.Given this data,a Laspeyres index of 2009 prices would be:

• A) 1.05.
• B) approximately 1.07.
• C) approximately 1.33.
• D) 1.50.

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Definitions:

Family Assessment

A systematic process of gathering and analyzing information about a family's structure, functions, and relationships to understand their needs, strengths, and challenges.

Scapegoating

The practice of unfairly blaming one person or group for problems or negative outcomes, often to deflect responsibility or criticisms.

Double Bind Communication

A situation in communication where an individual receives two or more conflicting messages, with one negating the other, making it difficult to appropriately respond or resolve.

Substance Abuse

The harmful or hazardous use of psychoactive substances, including alcohol and illicit drugs.