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The 2008 CPI (1982-84 = 100) Was 218

Question 2

Multiple Choice

The 2008 CPI (1982-84 = 100) was 218.8. The CPI component for educational books and supplies was 459. This means that

A) educational books and supplies costs rose 459%, while overall prices rose only 218.8%.
B) educational books and supplies costs rose 359%, while overall prices rose only 118.8%.
C) the average educational books and supplies cost was more than four times as high in 2008 as it was in the 1982-84 period, while, overall, prices were only about 2.2 times as high.
D) Both "educational books and supplies costs rose 459%, while overall prices rose only 218.8%" and "the average educational books and supplies cost was more than four times as high in 2008 as it was in the 1982-84 period, while, overall, prices were only about 2.2 times as high" are true.
E) Both "educational books and supplies costs rose 359%, while overall prices rose only 118.8%" and "the average educational books and supplies cost was more than four times as high in 2008 as it was in the 1982-84 period, while, overall, prices were only about 2.2 times as high" are true.

Correct Answer: