A Consumer Price Index of 160 in 1996 with a Base

question 109

Multiple Choice

A consumer price index of 160 in 1996 with a base year of 1982-1984 would mean that the cost of the market basket

• A)equaled $160 in 1996.
• B)equaled $160 in 1983.
• C)rose 160% from the cost of the market basket in the base year.
• D)rose 60% from the cost of the market basket in the base year.

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Definitions:

Euro

The Euro is the official currency of 19 out of the 27 European Union countries, known collectively as the Eurozone.

U.S. Dollars

The official currency of the United States, used as a standard monetary unit for international transactions and reserves.

Ad Valorem Duty

A type of tax calculated based on the value of the goods, services, or property.

German Firm

A business or company that is registered, headquartered, or primarily operates within Germany.