If the price of a typical market basket of goods increased from about $20 in 1960 to $200 in early 2012,then it:
A) must not have contained the same goods in both periods.
B) rose at a 100% rate from 1960 until early 2012.
C) rose at a 10% rate per year from 1960 until early 2012.
D) rose by 10-fold from 1960 until early 2012.
E) rose by 40-fold from 1960 until early 2012.

Question

Quizplus · Accepted Answer

The price of the market basket increased from $20 to $200, which is a 10-fold increase. Therefore, the correct answer is D, which states that it rose by 10-fold from 1960 until early 2012.

If the Price of a Typical Market Basket of Goods