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Between 2002 and 2003 a typical family cost of living

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Reference no: EM131138496

Every year the typical family on Planet Econ consumes ten pizzas, seven pairs of jeans and 20 litres of milk.

In 2002 pizzas cost $10 each,  jeans cost $40 per pair, and milk costs $3 per litre.

In 2003, the price of pizzas went down to $8 each, while the price of jeans and milk remained the same.

Between 2002 and 2003, a typical family's cost of living: Select one:

a. increased by 4.5%

b. decreased by 4.5%

c. increased by 20%

d. decreased by 20%

Reference no: EM131138496

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