Multiple Choice
If the inflation rate, as measured by the CPI, over the past year was 3%, a basket of goods and services that cost _____ a year ago would be equivalent to _______ at the current price level.
A) $30,000, $30,900
B) $20,000, $20,900
C) $30,000, $33,000
D) $10,000, $10,600
Correct Answer:
Verified
Correct Answer:
Verified
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