Table 24-5 The Table Below Pertains to Wrexington, an Economy in Which

question 510

Multiple Choice

Table 24-5
The table below pertains to Wrexington, an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys.
-Refer to Table 24-5. If the base year is 2004, then the CPI in 2004 was

• A)0.
• B)1.
• C)80.
• D)100.

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Two Cookies

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Delay Gratification

The ability to resist the temptation for an immediate reward and wait for a later reward.

"Hot" and "Cool" Systems

Terms used in psychology to describe the emotional, impulsive system ("hot") and the rational, deliberative system ("cool") of cognitive processing.