Use the Following Statements to Answer This Question: I

Multiple Choice

Use the following statements to answer this question: I. The inflation rate (the rate of change in the general price level) calculated from a price index like CPI is the same regardless of the base year we use to form the price index.
II) Although the CPI may indicate the general price level increased by 5% last year, there are some consumer products that may have experienced more or less inflation in the past year.

A) I and II are true.
B) I is true and II is false.
C) I is false and II is true.
D) I and II are false.