Question: The reference base period for the CPI is 1 9 8 2 - 1 9 8 4 . In January 2 0 1 6 ,

The reference base period for the CPI is 1982-1984.
In January 2016, the CPI was 236.9.
What does this number tell us?
This number tells us that the services was of the prices paid by urban consumers for a fixed basket of consumer goods and
A. average; 236.9 percent higher in January 2016 than the average of 1982-1984
B. inflation rate; 136.9 percent per year
C. inflation rate; 36.9 percent per year
D. average; 136.9 percent higher in January 2016 than the average of 1982-1984
The reference base period for the CPI is 1 9 8 2

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!