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

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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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
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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