If the current-year CPI is 140, then, since the base year, the price level has increased 40 percent.

Name: If the current-year CPI is 140, then, since the base year, the price level has increased 40 percent.
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Quizplus · Accepted Answer

This is because the CPI (Consumer Price Index) measures the price level of a basket of goods and services relative to a base year. If the current-year CPI is 140 and the base year CPI was 100, then there has been a 40% increase in the price level since the base year.

If the Current-Year CPI Is 140, Then, Since the Base