The table shown displays CPI data for 2015 to 2019. 
If the base year is 2016, what can be said about the cost of living in 2015?
A) The cost of living in 2015 was lower than in 2016.
B) The cost of living decreased because the CPI was less than 100.
C) The cost of living increased because the CPI was less than 100.
D) There must have been a recession because the CPI is less than 100.
Correct Answer:
Verified
Q17: Using the market basket approach:
A) allows us
Q18: When we say the cost of living
Q19: Which of the following goods is least
Q20: When the market basket is tracked over
Q21: The table shown displays CPI data for
Q23: When consumers substitute one good for another,
Q24: The table shown displays CPI data for
Q25: Which of the following is not a
Q26: The CPI-U does not include goods consumed
Q27: The CPI measures changes in the price
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