If the Price Index for a Particular Year Is 75

question 117

Multiple Choice

If the price index for a particular year is 75, it implies that ________.

• A) prices have increased by 7.5% over the base year
• B) prices have increased by 0.75% over the base year
• C) prices have decreased by 0.25% compared to the base year
• D) prices have decreased by 25% compared to the base year

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Definitions:

Ambulatory

A term pertaining to the ability of a will to be changed by a testator.

Bequest

The act of giving property or money to someone else after one's death through a will.

Devise

In law, a gift of real property by will.

Intestacy Statutes

Laws that determine how a person's property is distributed if they die without a valid will.