If the price of a soda was 15 cents in 1970,when the CPI was 50,and 50 cents in 2007,when the CPI was 172,then
A) prices on average have increased 567 percent.
B) prices on average have increased 244 percent.
C) the price of the soda was greater in real value in 1970 than in 2007.
D) the price of a soda has increased a greater percentage than the CPI.
E) the real price of a soda is the same in 1970 and 2007.
Correct Answer:
Verified
Q152: The CPI bias was estimated by the
Q153: In February 2010,the price of gasoline in
Q154: Joe buys chicken and beef.If the price
Q155: When comparing the annual inflation rate in
Q156: If average annual tuition at public 4-year
Q158: To compare the price of a loaf
Q159: To compare the real price of gas
Q160: If we compare the last 30 years
Q161: Which of the following formulas would you
Q162: If prices have decreased since the base
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents