Quiz on "The Consumer Price Index"




 Important Instructions for Taking Quiz

There are two kinds of questions those with circles in front of the answers and those with squares in front of the answers.  The ones with circles have only one answer.  The ones with squares can have more than one answer but might only have one answer. Lets say a question has 2 right answers and you check the correct boxes but you also check two boxes that are the wrong answer. You will get a score of zero on the question even though 2 of the answers were correct. 
 

If the Consumer Price Index is 130 that means that the cost of items went

down 130% since the base year.
down 30% since the base year
up 130% higher than the base year.
up 30% since the base year.

 A  10 year old Ford Mustang that has been driven 50,000 miles now costs about $20,000.  How much did it cost last year?

7% less or about $2,400 less
30% less or about $4,600 less

 How much has the price of coffee increased since last year.

7%
30%
67%.
108%

The size of Snickers bars have

Decreased compared to last year
Stayed the same but the price went up since last year
Increased since last year
Stayed the same but the price went down since last year

What are some signs that inflation has increased more than the 7% the government says it has

Rents have tripled in some areas
Dollar pizzas have gone up by 50 cents
The average home owner has to pay $500.00 more a year to heat his home than a year ago.
The salaries of a lot of people have not gone up more than 7%