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The price index computed between two time periods is given as 128%,This implies that the

Economics
JAMB 2005
The price index computed between two time periods is given as 128%,This implies that the
  • A. disposable income have increased by 28%
  • B. living standards have fallen by 128%
  • C. living standards have risen by 128%
  • D. living standards have fallen by 28%
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Correct Answer: Option B
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