Table 24-10 The Table Below Shows the Prices of Baseballs and Baseball

question 363

Multiple Choice

Table 24-10
The table below shows the prices of baseballs and baseball bats for three years. Assume the typical consumer's basket consists of 6 baseballs and 2 baseball bats.
-Refer to Table 24-10. If 2010 is the base year, then the consumer price index was

• A)77.40 in 2008, 85.16 in 2009, and 100.00 in 2010.
• B)50.50 in 2008, 67.50 in 2009, and 100.00 in 2010.
• C)90.88 in 2008, 85.16 in 2009, and 100.00 in 2010.
• D)169.50 in 2008, 186.50 in 2009, and 219.00 in 2010.

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Definitions:

Income Tax Rate

The fraction of salary that goes to the government in the form of taxes.

Straight-Line Depreciation

A method of calculating the depreciation of an asset, distributing its cost evenly across its useful life.

Initial Investments

The initial amount of money required to start a project, acquisition, or investment, often encompassing startup costs or purchase price.

Income Taxes

Taxes that individuals or entities are required to pay to a government, based on income earned over a fiscal period; these taxes vary by country and the details of the taxpayer's income situation.