The nominal price of a desk increased from $20 in 2005 to $65 in 2016.
The nominal price of a desk increased from $20 in 2005 to $65 in 2016. The Consumer Price Index (CPI) was 125 in 2005 and 250 in 2016. We can say that
A) the real price of a desk increased over time.
B) the real price of a desk fell over time.
C) the real price of a desk has not changed over time.
D) There is not enough information to determine the real price of a desk.
ANSWER
A
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