Refer to the above diagram.The base year used in determining the price indices for this economy:
A)cannot be determined from the information given.
B)is some year before 1992.
C)is more recent than 1992.
D)is 1992.

Question

Refer to the above diagram.The base year used in determining the price indices for this economy:
A)cannot be determined from the information given. 
B)is some year before 1992. 
C)is more recent than 1992. 
D)is 1992.

Quizplus · Accepted Answer

The label on the vertical axis indicates that the data is indexed to "1992=100", which means that 1992 is the base year used in determining the price indices for this economy. Therefore, the answer is D.

Refer to the Above Diagram