Multiple Choice
If Philadelphia has a CPI of 165 and Houston has a CPI of 145, and if both cities started with bases of 100, it means that _____.
A) prices have risen faster in Philadelphia since the base year than in Houston
B) it essentially costs more to live in Philadelphia than in Houston
C) it costs less to live in Houston than in Philadelphia
D) pay in Philadelphia is, on average, 20 percent higher than in Houston
Correct Answer:
Verified
Correct Answer:
Verified
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