Suppose You Know the Value of the Consumer Price Index

question 158

Multiple Choice

Suppose you know the value of the consumer price index (CPI) in year 2 as well as the inflation rate in year 2.Which of the following equations is valid for the CPI in year 1?

• A)CPI in year 1 =
• B)CPI in year 1 =
• C)CPI in year 1 =
• D)CPI in year 1 =

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Definitions:

Reinforcements

In behavioral psychology, stimuli used to increase the likelihood of a repeated behavior by applying rewarding or punishing consequences.

Conservation

In psychology, the understanding that certain properties of objects remain the same despite a change in the object's form or appearance.

Centration

The tendency, especially in young children, to focus on one aspect of a situation while neglecting other relevant aspects.

Play-Doh

A pliable dough used for creative play, primarily by children, allowing for the molding and crafting of shapes and figures.