The Consumer Price Index Was 122

question 44

Multiple Choice

The Consumer Price Index was 122.8 (2002 = 100) for Canada All Items in 2013, what was the purchasing power of the dollar?

• A) $1.00
• B) $0.33
• C) $0.58
• D) $0.81
• E) $0.72

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Definitions:

Production Function

A mathematical equation that describes the maximum output that can be produced with a given set of inputs, such as labor and capital.

Output

Refers to the total amount of goods or services produced by an entity in a given period.

Production Function

A mathematical relationship that describes the maximum amount of output that can be produced from a given set of inputs under certain technology.

Returns To Scale

The rate at which production output increases as a result of a proportional increase in all inputs or resources.