Multiple Choice
You know that the consumer price index (CPI) at the beginning of this year was 250 and the rate of inflation was 14%; this would mean:
A) the price of cat food increased by exactly 14%.
B) the CPI at the beginning of last year was 215.
C) the price of dog food probably fell.
D) the CPI at the end of the year was 285.
E) the rate of inflation next year will be more than 14%.
Correct Answer:
Verified
Correct Answer:
Verified
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