O-LevelEconomicsGovernment and the macroeconomy2281/13 · Oct/Nov 2024 · Q231 Mark
The table shows the weights allocated to the three items in a Consumer Prices Index (CPI) for two years. [Table 23.1 showing item, year 1, year 2 for food, clothing, housing, total] What can be concluded from this data?
AClothing prices have fallen.
BLiving standards remain unchanged.
CThe average price level is unchanged.
DThe proportion of income spent on food has risen.
✓ Correct answer
D: The proportion of income spent on food has risen.
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