Assume That the Market Basket of Goods and Services Purchased

question 80

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 2014 prices.However,the basket of goods and services actually purchased by the average family in 2014 costs $20,000 in 2014 prices,whereas this same basket would have cost $15,000 in 2004 prices.Given this data,a Paasche index of 2014 prices relative to 2004 prices would be:

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

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Definitions:

Numeric Or Alpha

Refers to data that can be represented as numbers (numeric) or letters (alpha).

ICD-9-CM

International Classification of Diseases, Ninth Revision, Clinical Modification, a system used in the United States until 2015 to code and classify morbidity data from inpatient and outpatient records, including physician offices.

ICD-10-CM

The International Classification of Diseases, Tenth Revision, Clinical Modification; a system used for coding and classifying diagnoses and procedures associated with hospital utilization in the United States.

Surgery

A branch of medicine that involves the treatment of injuries or disorders by cutting open the body and repairing or removing damaged organs and tissues.