The price of a gallon of gasoline was $1.35 in 2000 when the CPI equaled 1.68. The cost of a gallon of gasoline was $2.38 in 2016 when the CPI equaled 2.40. The real cost of a gallon of gasoline between 2000 and 2016:
A)increased.
B)decreased.
C)remained constant.
D)may have either increased or decreased.

Question

Quizplus · Accepted Answer

The real cost of gasoline increased from $0.81 per gallon ($1.35/1.68)in 2000 to $0.99 ($2.38/2.40)in 2016.

The Price of a Gallon of Gasoline Was $1