Multiple Choice
If the price index for a particular year is 110, it implies that ________.
A) prices have increased by 11% over the base year
B) prices have increased by 10% over the base year
C) prices have increased by 1.1% over the base year
D) prices have increased by 0.10% over the base year
Correct Answer:
Verified
Correct Answer:
Verified
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