In 2011,apples cost $1.49 a pound.Suppose the CPI was 120 in 2011 and 140 in 2012.If there is no change in the real price of an apple in 2012,what is the price of a pound of apples in 2012?
A) $2.74
B) $1.69
C) $1.66
D) $1.74
E) $1.28
Correct Answer:
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