The Consumer Price Index was 122.8 (2002 = 100) for Canada All Items in 2013, what was the purchasing power of the dollar?
A) $1.00
B) $0.33
C) $0.58
D) $0.81
E) $0.72

Question

Quizplus · Accepted Answer

To calculate the purchasing power of the dollar, we need to divide the base year index (2002) by the current index (2013) and multiply by 100. 
Purchasing power = (2002/2013) x 100 = 0.81
Therefore, the answer is D) $0.81, which means that one dollar in 2013 had the same purchasing power as $0.81 in the base year (2002).

The Consumer Price Index Was 122