Multiple Choice
A typical family on the Planet Econ consumes 10 pizzas,7 pairs of jeans,and 20 litres of milk.In 2011 pizzas cost $10 each,jeans cost $40 per pair,and milk costs $3 per litre.In 2012,the price of pizzas increased to $14 each,while the price of jeans and the price of milk remained the same.Between 2011 and 2012,a typical family's cost of living
A) increased by 9%.
B) decreased by 9%.
C) remained the same.
D) increased by 40%.
E) decreased by 40%.
Correct Answer:

Verified
Correct Answer:
Verified
Q139: The annual percentage increase in the purchasing
Q140: To counteract relative price changes,the government could
Q141: During the last half of 1999 and
Q142: If the real interest rate is 3%
Q143: The consumer price index (CPI)in 1930 was
Q145: A recent report indicated that the average
Q146: Suppose that a bank expects inflation to
Q147: Marge is lending Martin $1,000 for one
Q148: Suppose total expenditures for a typical household
Q149: The consumer price index (CPI)equals 100 in