Suppose the price of a litre of milk rises from $1 to $1.25 and the price of a T-shirt rises from $8 to $10. If the CPI rises from 150 to 175, what will people likely buy?
a. more milk and more T-shirts
b. more milk and fewer T-shirts
c. less milk and more T-shirts
d. less milk and fewer T-shirts
Suppose the price of a litre of milk rises from $1 to $1.25 and the price of a T-shirt rises from?
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Added 3+ months ago:
why the answer is D
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