Multiple Choice
Suppose the consumer price index (CPI) for Year X is 130. This means the average price of goods and services is
A) currently $130.
B) 130 percent more in Year X than in the base year.
C) 130 percent more in the base year than in Year X.
D) priced at 30 percent more in Year X than in the base year.
Correct Answer:
Verified
Correct Answer:
Verified
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