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

question 130

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. Which of the following scenarios is consistent with this statement? "The cost of living increased by 25 percent between 2009 and 2011."

• A) The price of a hot dog was $2.24 rather than $3.00 in 2009, with other prices in the table remaining fixed.
• B) The price of a hot dog was $4.07 rather than $3.63 in 2011, with other prices in the table remaining fixed..
• C) The price of a hamburger was $4.24 rather than $5.00 in 2009, with other prices in the table remaining fixed.
• D) The price of a hamburger was $5.96 rather than $5.61 in 2011, with other prices in the table remaining fixed.

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Definitions:

Howard Winant

An American sociologist known for his work on race and racism, particularly in the context of global and American society.

Race

A category of humankind that shares certain distinctive physical traits.

Class

A system of ordering society whereby people are divided into sets based on perceived social or economic status.

Conflict Theory

A sociological perspective that emphasizes the role of social conflict in driving societal change and development.