In Bovania,cattle Compose 48% of the Consumer Price Index (CPI),housing

question 149

Multiple Choice

In Bovania,cattle compose 48% of the consumer price index (CPI) ,housing composes 32%,and entertainment accounts for the remaining 20%.If,in a certain year,the price of cattle rises by 30% and the price of housing rises by 25%,then:

• A) the value of the CPI must rise, no matter what happens to the price of entertainment, because two-thirds of the CPI is more expensive.
• B) the CPI has increased as long as the price of entertainment does not fall by more than 55%.
• C) the CPI has increased, even if the entertainment in the next year is free.
• D) the CPI has decreased if the price of entertainment falls by more than 27.5%.
• E) it is not possible to tell what would happen to the CPI because it is certain that the goods included in the CPI must change.

Recognize the importance of reducing errors through standardized procedures and repeated measurements in scientific observations.

Identify the utility of mathematical and other models in scientific research, especially in predicting environmental phenomena.

Describe characteristics of systems and their importance in the scientific study of the environment.

Develop an understanding of how scientists form questions, hypotheses, and experiments to explore natural phenomena.

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Definitions:

Purchasing Power

The valuation of a currency based on the volume of goods or services it can buy per unit.

CPI

The Consumer Price Index, a tool that inspects the generalized weighted average prices of a multitude of consumer services and goods, such as food, transportation, and medical services.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, used as an indicator of inflation.

Base Date

A specific point in time selected as a reference or starting point for calculations, measurements, or comparisons.