Suppose that 1982 is the base year for the Consumer Price Index (CPI)and in 2007 the CPI was 190.What does this "190" mean?
A) What cost $100 in 1982 on average cost 190 times as much in 2007.
B) What cost $100 in 1982 on average cost $190 in 2007.
C) What cost $100 in 1982 on average cost 0.19 times as much in 2007 (that is, it cost $19 in 2007).
D) What cost $100 in 1982 on average cost $19 more in 2007.

Question

Quizplus · Accepted Answer

The CPI of 190 in 2007 means that on average, prices for goods and services measured by the CPI were 1.9 times higher in 2007 than they were in the base year of 1982. Therefore, what cost $100 in 1982 would, on average, have cost $190 in 2007.

Suppose That 1982 Is the Base Year for the Consumer