Consider the following information about the price and the price index of a popular book over three years. If the price index in 2011 was 95 instead of 111.11,it would imply that _______________________________________.
A) the price of the book in 2011 was 16.11% lower than its price in 2009
B) 2011 would be considered as the base year
C) the price of the book in 2011 was 5% lower than its price in 2009
D) the price of the book in 2011 would be $4

Question

Consider the following information about the price and the price index of a popular book over three years.  If the price index in 2011 was 95 instead of 111.11,it would imply that _______________________________________.
A) the price of the book in 2011 was 16.11% lower than its price in 2009 
B) 2011 would be considered as the base year 
C) the price of the book in 2011 was 5% lower than its price in 2009 
D) the price of the book in 2011 would be $4

Quizplus · Accepted Answer

The Answer of Consider the following information about the price and the price index of a popular book over three years.  If the price index in 2011 was 95 instead of 111.11,it would imply that _______________________________________.
A) the price of the book in 2011 was 16.11% lower than its price in 2009 
B) 2011 would be considered as the base year 
C) the price of the book in 2011 was 5% lower than its price in 2009 
D) the price of the book in 2011 would be $4

Consider the Following Information About the Price and the Price