Which of the following pairs of values of the consumer price index (CPI) is consistent with an inflation rate of 14 percent for 2011?
A) CPI in 2011 = 150; CPI in 2012 = 164
B) CPI in 2011 = 150; CPI in 2012 = 171
C) CPI in 2010 = 150; CPI in 2011 = 164
D) CPI in 2010 = 150; CPI in 2011 = 171
Correct Answer:
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