For an Imaginary Economy,the Consumer Price Index Was 80 in 2014,100

question 150

Multiple Choice

For an imaginary economy,the consumer price index was 80 in 2014,100 in 2015,and 140 in 2016.Which of the following statements is correct?

• A)If the basket of goods that is used to calculate the CPI cost $40 in 2014,then that basket of goods cost $60 in 2015.
• B)If the basket of goods that is used to calculate the CPI cost $25 in 2015,then that basket of goods cost $35 in 2016.
• C)The overall level of prices increased by 60 percent between 2014 and 2016.
• D)All of the above are correct.

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Definitions:

Chamber of Commerce

A local association to promote and protect the interests of the business community in a particular place.

Financial Services

Industries that manage money, including banks, credit unions, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, and some government-sponsored enterprises.

Networking

The act of connecting with individuals or groups to exchange information and develop professional or social contacts.

Trade Show

An exhibition where companies in a specific industry showcase and demonstrate their new products and services.