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Twenty Years Ago a Stove Cost $300 and a Refrigerator

Question 188

Multiple Choice

Twenty years ago a stove cost $300 and a refrigerator cost $1,500. Today a stove costs $600, while a refrigerator costs $1,800. Which of the following statements is true?


A) The money price of a refrigerator has fallen.
B) The relative price of a refrigerator has increased.
C) The relative price of stoves and refrigerators has not changed.
D) The relative price of a stove has increased.

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