If the Value of the Consumer Price Index (CPI)in 2013

question 28

Multiple Choice

If the value of the consumer price index (CPI) in 2013 was 135 and the value of the CPI in 2012 was 117,we could correctly say that the:

• A) typical basket of goods was about 18% more expensive in 2013 than in 2012.
• B) typical basket of goods was about 18% less expensive in 2013 than in 2012.
• C) typical basket of goods was about 15.4% more expensive in 2013 than in 2012.
• D) average price of all items included in gross domestic product (GDP) was about 18% more expensive in 2013 than in 2012.
• E) average price of all items included in GDP was about 15.4% more expensive in 2013 than in 2012.