Multiple Choice
If the consumer price index (CPI) was 100 in 2002 and 111.5 in 2007,and a typical household's income was $35,000 in 2002 and $39,025 in 2007,then between 2002 and 2007,real household income
A) increased.
B) decreased.
C) was constant.
D) may have increased or decreased.
E) can not be determined.
Correct Answer:
Verified
Correct Answer:
Verified
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