Suppose that 1982 is the base year for the consumer price index (cpi) and in 2008 the cpi is 450. what does this "450" mean? a. what cost $100 in 1982 will on average cost 450 times as much in 2008.b. what cost $100 in 1982 will on average cost $450 morein 2008.c. what cost $100 in 1982 will on average cost 100/450 (or 0.22) times as much in 2008 (that is, it will cost $22 in 2008).d. what cost $100 in 1982 will on average cost $350 more.
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Suppose that 1982 is the base year for the consumer price index (cpi) and in 2008 the cpi is 450. wh...
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