Asked by Molly Walsh on May 16, 2024
Verified
Suppose that the CPI doubles from 1995 to 2004.That means that prices have risen by
A) 50%.
B) 100%.
C) 150%.
D) 200%.
E) 400%.
CPI
Stands for Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
- Assess shifts in the Consumer Price Index (CPI) and their impact on economic conditions.
Verified Answer
CB
Courtney BrookhartMay 22, 2024
Final Answer :
B
Explanation :
When the Consumer Price Index (CPI) doubles, it means that prices have increased by 100% from their original value.
Learning Objectives
- Assess shifts in the Consumer Price Index (CPI) and their impact on economic conditions.