Multiple Choice
Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2014 the CPI was 190.What does this "190" mean?
A) What cost $100 in 1982 on average cost 190 times as much in 2014.
B) What cost $100 in 1982 on average cost $190 in 2014.
C) What cost $100 in 1982 on average cost 0.19 times as much in 2014 (that is,it cost $19 in 2014) .
D) What cost $100 in 1982 on average cost $19 more in 2014.
Correct Answer:
Verified
Correct Answer:
Verified
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