QUESTION 7 Keisha's income was $52,342 in 2011 and $64,983 in 2021. If the CPI rose from 225 to 271 between 2011 and 2021, which of the following is true? OA The purchasing power of Keisha's income remained constant between 2011 and 2021. OB. There was deflation between 2011 and 2021. OC The purchasing power of Keisha's income increased between 2011 and 2021. O D. The purchasing power of Keisha's income decreased between 2011 and 2021. O E. Keisha's income in 2011 was equivalent to her income in 2021 because she was able to purchase the same amount of goods and services.

QUESTION 7 Keisha's income was $52,342 in 2011 and $64,983 in 2021. If the CPI rose from 225 to 271 between 2011 and 2021, which of the following is true? OA The purchasing power of Keisha's income remained constant between 2011 and 2021. OB. There was deflation between 2011 and 2021. OC The purchasing power of Keisha's income increased between 2011 and 2021. O D. The purchasing power of Keisha's income decreased between 2011 and 2021. O E. Keisha's income in 2011 was equivalent to her income in 2021 because she was able to purchase the same amount of goods and services.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...

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