Multiple Choice
The CPI for "educational books and supplies" in June of 2006 was 386.7 (1982-1984 = 100) . Interpret this index.
A) There was no significant increase in the price of "educational books and supplies."
B) The price of "educational books and supplies" increased 386.7 times.
C) If the average price of a textbook in 1982-1984 was $25.00,the CPI for "educational books and supplies" would predict that the price of the textbook in June 2006 would be $71.68.
D) If the average price of a textbook in 1982-1984 was $25.00,the CPI for "educational books and supplies" would predict that the price of the textbook in June 2006 would be $96.68.
Correct Answer:
Verified
Correct Answer:
Verified
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