Multiple Choice
Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 270.What does this "270" mean?
A) What cost $100 in 1982 on average cost 270 times as much in 2019.
B) What cost $100 in 1982 on average cost $270 in 2019.
C) What cost $100 in 1982 on average cost 0.27 times as much in 2019.
D) What cost $100 in 1982 on average cost $27 more in 2019
Correct Answer:
Verified
Correct Answer:
Verified
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