Examlex

Solved

If the Year 2000 Is Used as a Base Year

question 20

True/False

If the year 2000 is used as a base year and the value of the price index in 2001 is 105, it implies that there was a 5% increase in the price level in 2001.


Definitions:

San Francisco Opera

A renowned opera company based in San Francisco, California, known for its performances of classical and contemporary operas.

Chicago Cubs

A professional baseball team based in Chicago, Illinois, known for its passionate fan base.

State Hermitage Museum

One of the largest and oldest museums in the world, located in St. Petersburg, Russia, known for its extensive collection of art and artifacts.

Service

An intangible act or use benefit provided to satisfy consumer needs or wants, typically not resulting in the ownership of something physical.

Related Questions