In Questions Make the Assumption That the Change in Housing

question 99

Multiple Choice

In Questions make the assumption that the change in housing prices exactly matches the change in the CPI. In fact, housing is only part of the CPI, and figures into the CPI through rents rather than sale prices, so this assumption may be far from correct.
-John bought a house in 1947 and sold it in 2012 for $80,000. If the 1947 CPI is 22.3 and the 1997 CPI is 160.5, how much would the house be worth in 1947 dollars?

• A) $5,578
• B) $7,770
• C) $8,633
• D) $4,844

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Definitions:

Neurons

Nerve cells that are the basic building blocks of the nervous system, responsible for receiving sensory input from the external world, sending motor commands to our muscles, and transforming and relaying the electrical signals at every step in between.

Environment

The surrounding physical, chemical, and biological factors and conditions that influence the growth, development, and survival of organisms.

Behavior

The actions or reactions of an organism, often in response to its environment.

Altruistic Behavior

Occurs whenever a helping individual behaves in a way that benefits another individual at a cost to its own fitness.