Question :
21.
According to the table shown, what can be said about : 1379066
21.
According to the table shown, what can be said about the cost of living in 2010?
A. The typical consumer must spend 5 percent more in 2010 than they did in 2009 for the same goods.
B. Every consumer will experience a 5 percent increase in their cost of living from 2009.
C. Whatever consumers bought in 2010 cost 5 percent more than what they spent in 2009.
D. None of these statements is true.
22.
According to the table shown, what happened to the cost of living from 2011 to 2012?
A. The cost of living increased; consumers became worse off than they would have been if the price level had not changed.
B. The cost of living decreased; consumers became worse off than they would have been if the price level had not changed.
C. The cost of living increased; consumers became better off than they would have been if the price level had not changed.
D. The cost of living decreased; consumers became better off than they would have been if the price level had not changed.
23.
According to the table shown, how do we interpret what happened between 2009 and 2012?
A. The cost of living increased 6 percent.
B. The cost of living increased 1.06 percent.
C. The cost of living decreased 2 percent.
D. The cost of living decreased .98 percent.
24.
According to the table shown, what can be said about the cost of living in 2008?
A. It was lower than in the base year.
B. People experienced a decrease in the cost of living because the CPI is less than 100.
C. People experienced an increase in the cost of living because the CPI isn’t over 100.
D. There must have been a recession because the CPI is less than 100.
25.
According to the table shown, what can be said about the cost of living in 2009?
A. It increased 1 percent since the previous year, and consumers were worse off if their nominal income did not change.
B. It increased by 1 percent since the previous year, and consumers were better off if their nominal income did not change.
C. It is the base year, so no comparisons can be made in this year.
D. It is the base year, so the cost of the basket of goods cannot be summarized.
26.The “urban consumers” that the CPI is based on includes:
A. anyone living in a city of 2,500 or more.
B. anyone living in a city of 5,000 or more.
C. anyone living in a city of 10,000 or more.
D. anyone living in a city of 15,000 or more.
27.The consumers that the CPI is based on includes:
A. “urban consumers.”
B. professors.
C. unemployed persons.
D. All of these are included.
28.The consumers that the CPI is based on includes:
A. bank tellers.
B. greeters at Walmart.
C. retired persons.
D. All of these are included.
29.The consumers that the CPI is based on does not include:
A. the unemployed.
B. the retired.
C. persons in prison.
D. The CPI does not include any of these.
30.The consumers that the CPI is based on includes:
A. institutionalized persons.
B. incarcerated persons.
C. persons in the military.
D. The CPI does not include any of these.
