Multiple Choice
The price of a litre of gasoline was $0.12 in 1972,when the consumer price index (CPI) was 21.9.The cost of a litre of gasoline was $0.50 in 2000,when the CPI was 95.4.Between 1972 and 2000,the real cost of a litre of gasoline
A) increased.
B) decreased.
C) remained constant.
D) may have either increased or decreased.
E) cannot be determined.
Correct Answer:
Verified
Correct Answer:
Verified
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