The following are the consumer price index (CPI) for the years 1990-1992, all using a reference year of 1985. Which of the following statements is true based on the information?
a) $100 in 1991 would have been worth $100 in 1990.
b) $100 in 1992 would be equivalent to $130 in 1991.
c) $100 in 1985 would be equivalent to $145 in 1992.
d) $100 in 1990 would have been worth $114 in 1985.
a) $100 in 1991 would have been worth $100 in 1990.
b) $100 in 1992 would be equivalent to $130 in 1991.
c) $100 in 1985 would be equivalent to $145 in 1992.
d) $100 in 1990 would have been worth $114 in 1985.