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Discussion

The current price index (base 1960) is nearly 330. This means that

  • A.All items cost 3-3 times more than what they did in 1960
  • B.The prices of certain selected items have gone up to 3-3 times
  • C.Weighted means of prices of certain item has increased 3-3 times
  • D.Gold price has gone up 3-3 times

Answer: C

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