Multiple Choice
Suppose that 1983 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 260.What does this "260" mean?
A) What cost $100 in 1983 on average cost 2.60 times as much in 2019.
B) What cost $100 in 1983 on average cost $260 more in 2019.
C) What cost $100 in 1983 on average cost 0.26 times as much in 2019.
D) What cost $100 in 1983 on average cost $26 more in 2019.
Correct Answer:
Verified
Correct Answer:
Verified
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