Price indexes like the CPI are calculated using a base year. The ...

[faduma]

Price indexes like the CPI are calculated using a base year. The term base year refers to:
 a. the first year that price data are available.
  b. any year in which inflation was higher than 5 percent.
  c. the most recent year in which the business cycle hit the trough.
  d. an arbitrarily chosen reference year.

Question 2

The marginal propensity to consume (MPC) is the change in consumption divided by the change in income.
 a. True
  b. False
  Indicate whether the statement is true or false

[briseldagonzales]

Answer to Question 1

d

Answer to Question 2

True

[faduma]

Great answer, keep it coming

[Sarahjh]

Thanks for the timely response, appreciate it