Multiple Choice
Martha has noticed that the CPI has increased by 7 percent over the past year. What is the best conclusion for Martha to make based on this information?
A) Her cost of living has increased by 7 percent.
B) The price of necessities such as food, rent, and medicine has increased by an average of 7 percent.
C) Her income has increased by 7 percent.
D) The weighted average of prices of goods and services in a market basket bought by a typical consumer has increased by 7 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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