The reference base period for the CPI is 1982-1984. In January 2018, the CPI was 247.9. What does this number tell us? This number tells us that the of the prices paid by urban consumers for a fixed basket of consumer goods and services was O A average; 147.9 percent higher in January 2018 than the average of 1982-1984 B. inflation rate; 47.9 percent per year OC. inflation rate; 147.9 percent per year O D. average; 247.9 percent higher in January 2018 than the average of 1982-1984
The reference base period for the CPI is 1982-1984. In January 2018, the CPI was 247.9. What does this number tell us? This number tells us that the of the prices paid by urban consumers for a fixed basket of consumer goods and services was O A average; 147.9 percent higher in January 2018 than the average of 1982-1984 B. inflation rate; 47.9 percent per year OC. inflation rate; 147.9 percent per year O D. average; 247.9 percent higher in January 2018 than the average of 1982-1984
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 13P
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![The reference base period for the CPI is 1982-1984.
In January 2018, the CPI was 247.9.
What does this number tell us?
This number tells us that the
of the prices paid by urban consumers for a fixed basket of consumer goods and services was
O A average; 147.9 percent higher in January 2018 than the average of 1982-1984
B. inflation rate; 47.9 percent per year
OC. inflation rate; 147.9 percent per year
O D. average; 247.9 percent higher in January 2018 than the average of 1982-1984](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37e768c3-5bf3-4748-abc1-839e21ac0eb2%2F2f0030a3-b44b-40db-9ba4-2b3be6a1259a%2Fhz46rzb.jpeg&w=3840&q=75)
Transcribed Image Text:The reference base period for the CPI is 1982-1984.
In January 2018, the CPI was 247.9.
What does this number tell us?
This number tells us that the
of the prices paid by urban consumers for a fixed basket of consumer goods and services was
O A average; 147.9 percent higher in January 2018 than the average of 1982-1984
B. inflation rate; 47.9 percent per year
OC. inflation rate; 147.9 percent per year
O D. average; 247.9 percent higher in January 2018 than the average of 1982-1984
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