The base year is 2010. If the CPI today is 199, what does this mean about consumer prices? A) They have increased by 199% since 2010 B) They have increased by 99% since 2010 C) They have decreased by 199% since 2010. D) They have decreased by 99% since 2010
The base year is 2010. If the CPI today is 199, what does this mean about consumer prices? A) They have increased by 199% since 2010 B) They have increased by 99% since 2010 C) They have decreased by 199% since 2010. D) They have decreased by 99% since 2010
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The base year is 2010. If the CPI today is 199, what does this mean about consumer prices?
A) They have increased by 199% since 2010
B) They have increased by 99% since 2010
C) They have decreased by 199% since 2010.
D) They have decreased by 99% since 2010
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