If the CPI is 120, this means that
A) the inflation rate must be positive.
B) prices are 0.12 times higher than in the reference base period.
C) prices are 20 percent higher than in the reference base period.
D) prices are 120 percent higher than in the reference base period.
Correct Answer:
Verified
Q272: Q273: Hyperinflation is defined as Q274: The consumer price index (CPI) Q275: Using the notation Pt to designate this Q276: If the CPI basket costs $35 in Q278: Suppose the CPI last year is 121 Q279: The first step in measuring the CPI Q280: The Consumer Price Index is a measure Q281: If the price level last year was Q282: If the Consumer Price Index last year
A) very low inflation
A) is the
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