A typical family on the Planet Econ consumes 10 pizzas,7 pairs of jeans,and 20 litres of milk.In 2011,pizzas cost $10 each,jeans cost $40 per pair,and milk costs $3 per litre.In 2012,the price of pizzas went down to $8 each,while the price of jeans and the price of milk remained the same.Between 2011 and 2012,a typical family's cost of living
A) increased by 4.5%.
B) decreased by 4.5%.
C) remained the same.
D) increased by 20%.
E) decreased by 20%.
Correct Answer:
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Q1: The consumer price index for a given
Q2: The consumer price index is a measure
Q4: If the price index is 130,this means
Q5: The consumer price index attempts to measure
Q6: The consumer price index for Planet Econ
Q7: If the total expenditures of a typical
Q8: If the total expenditures of a typical
Q9: The consumer price index (CPI)is all of
Q10: A typical family on the Planet Econ
Q11: Suppose total expenditures for a typical household
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