The 2008 CPI (1982-84 = 100) Was 218

question 15

Multiple Choice

The 2008 CPI (1982-84 = 100) was 218.8 but the component of the CPI for personal computers was 92.9. There were great improvements in quality and features in personal computers between 1982-84 and 2008. We can say that

• A) the actual average price of a personal computer in 2008 was only 92.9% of the average price in 1982-84.
• B) the actual average price of a personal computer in 2008 was 218.8% of the average price in 1982-84.
• C) if a personal computer sold for $1000 in 1982-84, that same computer would sell for only $929 in 2008.
• D) Both "the actual average price of a personal computer in 2008 was only 92.9% of the average price in 1982-84" and "if a personal computer sold for $1000 in 1982-84, that same computer would sell for only $929 in 2008" are true.
• E) Both "the actual average price of a personal computer in 2008 was 218.8% of the average price in 1982-84" and "if a personal computer sold for $1000 in 1982-84, that same computer would sell for only $929 in 2008" are true.

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Definitions:

Horizontal Axis

In graphing, the x-axis, which is used to represent the independent variable or the baseline measure for comparison.

Vertical Axis

In a graph or chart, the y-axis that typically represents the dependent variable or the value being measured.

Entire Budget

The total amount of financial resources available or allocated for a specific purpose, project, or period.

Price Of Peaches

The amount of money required to purchase a specific quantity of peaches in the market.