Table 6-6 the Table Below Applies to an Economy with Only

question 80

Multiple Choice

Table 6-6. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs.

-Refer to Table 6-6. If the base year is 2010, then the economy's inflation rate is

• A) 2 percent in 2010 and 7 percent in 2011.
• B) 4.5 percent in 2010 and 5.2 percent in 2011.
• C) 9 percent in 2010 and 5.5 percent in 2011.
• D) 10 percent in 2010 and 6.36 percent in 2011.

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Definitions:

Fruit Pickers

Individuals who harvest fruit crops, often working seasonally and moving locations based on harvest times.

Union Strong

Refers to the robustness and effectiveness of labor unions in advocating for workers' rights and negotiating better wages and working conditions.

Real Wages

Wages adjusted for inflation, reflecting the purchasing power of income received for work.

Labor Unions

Organizations formed by workers from related fields that work for the mutual benefit of its members to negotiate wages, working conditions, benefits, and other employment terms with employers.