If the consumer price index was 100 in 1984 and 244 in 2015,the purchasing power of the dollar
A)fell 144 percent.
B)fell 59 percent.
C)rose 144 percent.
D)rose 59 percent.

Question

Quizplus · Accepted Answer

The formula for calculating the percentage change in purchasing power is ((new index-old index)/old index)*100. Plugging in the values, ((244-100)/100)*100= 144. This means there was a decrease of 144% in the purchasing power of the dollar.

If the Consumer Price Index Was 100 in 1984 and 244