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Answer :
Answer:
Its b
Explanation:
Got 100%
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The CPI in 1970 was 38.8. The CPI in 2007 was 207. The purchasing power of $50,000 in 1970 was more than the purchasing power of $200,000 in 2007. Thus, option 'B' is the correct option.
What is the consumer price index?
The Consumer Price Index (CPI) is a gauge of how prices for a market basket of consumer goods and services have changed on average over time for urban consumers. There are indexes available for the United States and various regions. One of the most widely used indicators of inflation and deflation is the CPI.
In contrast to the producer price index (PPI), which tracks changes in the prices paid to American producers of goods and services, the CPI report has a different survey methodology, price samples, and index weights. The CPI is the most commonly cited indicator of inflation, closely followed by other indicators utilized by policymakers, the financial sector, companies, and consumers. To estimate the change in shelter costs, including owner-occupied housing, which makes up roughly a third, housing rentals are employed.
Learn more about the consumer price index here:
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Probably the full options are:
a. less than
b. more than
c. the same as
d. not comparable to
