Multiple Choice
A consumer price index of 160 in 2017 with a base year of 2002 would mean that the cost of the market basket
A) equaled $160 in 2017.
B) equaled $160 in 2002.
C) rose 160% from the cost of the market basket in the base year.
D) rose 60% from the cost of the market basket in the base year.
E) is 160 times more than it cost in 2002.
Correct Answer:
Verified
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