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If the Cost of a Market Basket Is $200 in 2006

Question 27

Multiple Choice

If the cost of a market basket is $200 in 2006 and $230 in 2007, the price index for 2007 using 2006 as the base year is _____.

A) 1.00
B) 1.15
C) 1.30
D) 2.00

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