If the Total Expenditures of a Typical Family Equaled $35,000

question 114

Multiple Choice

If the total expenditures of a typical family equaled $35,000 per year in 2000 and the exact same basket of goods and services cost $40,000 in the year 2005, the family's cost of living:

• A) increased by 14 percent.
• B) decreased by 12.5 percent.
• C) decreased by 14 percent.
• D) increased by 12.5 percent.

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