Multiple Choice
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2016, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon. In 2017, the price of pizzas increased to $14 each, while the price of jeans and milk remained the same. Between 2016 and 2017, a typical family's cost of living:
A) increased by 9 percent.
B) decreased by 9 percent.
C) remained the same.
D) increased by 40 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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