Which of the Following Statements Is True

question 131

Multiple Choice

Which of the following statements is true?

• A)Even if we know the values of the consumer price index for the years 2009 and 2010,we cannot calculate the inflation rate for 2010 if we do not know which year is the base year.
• B)If we know the base year is 1990,and if we know the value of the consumer price index for the year 2010,then we have all the information we need to calculate the inflation rate for 2010.
• C)If we know the base year is 2000,and if we know the value of the consumer price index for the year 1995,then we have all the information we need to calculate the inflation rate for 1995.
• D)If we know the base year is 2000,and if we know the value of the consumer price index for the year 1995,then we have all the information we need to calculate the percentage change in the cost of living between 1995 and 2000.

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Definitions:

Leather Jackets

A type of outerwear made from the hide of animals, typically cows, known for its durability, style, and warmth.

Whips

In parliamentary practice, members of a political party designated to enforce party discipline and ensure party member attendance and voting in line with party policies.

Cocoa

A powder made from roasted and ground cacao seeds, used in the production of chocolate, as well as in beverages and baking.

Consumption

The process by which goods and services are used up by consumers, reflecting economic activity and individuals' preferences.