Multiple Choice
Suppose the CPI for the year 2010 is 133.7.This number means that
A) on average, goods cost $133.70 each in the year 2010.
B) prices rose 33.7 percent over the last year.
C) prices rose 133.7 percent over the base year.
D) prices rose 33.7 percent over the base year.
E) prices rose 133.7 percent over the last year.
Correct Answer:
Verified
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