If the Average Price of a Barrel of Oil Was

question 35

Multiple Choice

If the average price of a barrel of oil was $35 in 1990, when the CPI was 114.7 and $55 in 2019 when the CPI was 229.6, then the real cost of a barrel of oil

• A) rose by 20 per cent during that period.
• B) rose by 57 per cent during that period.
• C) rose by 75.7 per cent during that period.
• D) fell by 57 per cent during that period.
• E) fell by 157 per cent during that period.

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