Multiple Choice
Consider the following information about the price and the price index of a popular book over three years. 
If the price index in 2011 was 95 instead of 111.11, it would imply that ________.
A) the price of the book in 2011 was 16.11% lower than its price in 2009
B) 2011 would be considered as the base year
C) the price of the book in 2011 was 5% lower than its price in 2009
D) the price of the book in 2011 would be $4
Correct Answer:
Verified
Correct Answer:
Verified
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