In an Imaginary Economy,consumers Buy Only Sandwiches and Magazines

question 140

Multiple Choice

In an imaginary economy,consumers buy only sandwiches and magazines.The fixed basket consists of 20 sandwiches and 30 magazines.In 2006,a sandwich cost $4 and a magazine cost $2.In 2007,a sandwich cost $5.The base year is 2006.If the consumer price index in 2007 was 125,then how much did a magazine cost in 2007?

• A)$0.83
• B)$2.25
• C)$2.50
• D)$3.00

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Definitions:

TCritical One-Tail

A value on the t-distribution that is used in a one-tailed t-test to determine the statistical significance of a result.

P(T>=t) One-Tail

The probability that the test statistic T is greater than or equal to some value t, assuming the null hypothesis, used in one-tailed tests.

Treatment Group

A group of subjects or elements that receive the variable being tested in an experiment.

Mean Response Time

The average time taken to respond to a set of requests, often used as a performance metric in various fields.