Suppose that the Consumer Price Index increased by 9% over this period. What happened to the real price of Internet service? The real price of Internet service decreased by:
Suppose that the Consumer Price Index increased by 9% over this period. What happened to the real price of Internet service? The real price of Internet service decreased by:
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![13 of 38
The price of high speed Internet service fell from 40 cents per minute in 2004 to
22 cents per minute in 2010, a 45-percent (18 cents/40 cents) decrease.
Suppose that the Consumer Price Index increased by 9% over this period. What
happened to the real price of Internet service? The real price of Internet service
decreased by:
O A. 25.6%
O B. 36.0%
O C. 49.5%
O D. 50.5%
Unsure](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F418f4743-ad20-48ba-82c6-29c3c35b7648%2Fe1ac41a3-37c1-4fea-a000-41100bf8ddd7%2Fl04wiui_processed.jpeg&w=3840&q=75)
Transcribed Image Text:13 of 38
The price of high speed Internet service fell from 40 cents per minute in 2004 to
22 cents per minute in 2010, a 45-percent (18 cents/40 cents) decrease.
Suppose that the Consumer Price Index increased by 9% over this period. What
happened to the real price of Internet service? The real price of Internet service
decreased by:
O A. 25.6%
O B. 36.0%
O C. 49.5%
O D. 50.5%
Unsure
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