Multiple Choice
Assuming a price index calculated 104.5 in 2013,compared with 100 in 2012,for a bundle of goods,what is the current purchasing power of every dollar,compared to 2012?
A) 95.5 cents in every dollar, on average
B) 95.69 cents in every dollar, on average
C) 96.5 cents in every dollar, on average
D) $1.045 in every dollar, on average
Correct Answer:
Verified
Correct Answer:
Verified
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