If the Price Index Is Now 120, It Means

question 29

Multiple Choice

If the price index is now 120, it means:

• A)​prices are 120 percent higher than in the base year.
• B)​prices are 20 percent higher than in the base year.
• C)​prices are 1.2 percent higher than in the base year.
• D)​nominal GDP will be less than real GDP.

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