If the Consumer Price Index for a Certain Year Is

Multiple Choice

If the Consumer Price Index for a certain year is 120, this means that the average price of consumer items in that year was

A) 20 percent higher than the average price in the base period 1982-84.
B) about $120 per basket of consumer goods and services.
C) 120 percent higher than the average price in the base period 1982-84.
D) 20 percent higher than the average price of the preceding year.