Question

question 2 (2 points)
please answer the following question in your own words, using one or two complete sentences. explain the following like you would to a friend who has not taken an economics class before.
assume that you have a cpi of 155, what does this number mean or tell us?

Explanation:

CPI (Consumer Price Index) measures the average change in prices of a basket of goods and services over time. A CPI of 155 means that, on average, prices have increased by 55% compared to the base period (which is set at 100). So, things cost more now than they did in the base period.

Answer:

A CPI of 155 means that, on average, prices have increased by 55% compared to the base period (which is set at 100). So, things cost more now than they did in the base period.