What is the value of the CPI in the base period? The value of the CPI in the base period O A. can be greater than, equal to, or less than 100 O B. is 100 no matter what reference base period is chosen C. changes when the reference base period changes D. is relevant only if the base period is within the last 10 years

What is the value of the CPI in the base period? The value of the CPI in the base period O A. can be greater than, equal to, or less than 100 O B. is 100 no matter what reference base period is chosen C. changes when the reference base period changes D. is relevant only if the base period is within the last 10 years

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter24: Measuring The Cost Of Living

Section: Chapter Questions

Problem 5QCMC

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What is the value of the CPI in the base period? The value of the CPI in the base period _______. A. can be greater than, equal to, or less than 100 B. changes when the reference base period changes C. is 100 no matter what reference base period is chosen D. is relevant only if the base period is within the last 10 years