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 Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter11: Measuring The Cost Of Living

Section: Chapter Questions

Problem 3PA

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