Multiple Choice
There are separate CPIs for various components of the market basket. For example, the CPI for new motor vehicles (1982-84 = 100) was 132.4 in 2008.
If there were no adjustments for quality improvements, then how much did new motor vehicle prices increase from the base period to 2008?
A) By 24%
B) By 132.4%
C) By 32.4%
D) None of the answers are correct.
E) Impossible to say because the CPI doesn't measure prices.
Correct Answer:
Verified
Correct Answer:
Verified
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