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If the Inflation Rate, as Measured by the CPI, Over

Question 23

Multiple Choice

If the inflation rate, as measured by the CPI, over the past year was 4%, a basket of goods and services that cost _____ a year ago would be equivalent to _______ at the current price level.


A) $100,000, $140,000
B) $50,000, $50,400
C) $50,000, $52,000
D) $100,000, $100,400

Correct Answer:

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