Final answer:
To determine the change in the price level for real estate from 2009 to 2010, we calculate the percentage change in CPI from 140 to 132 which results in a decrease of -5.71%, corresponding to option b.
Step-by-step explanation:
A percentage is a number or ratio expressed as a fraction of 100. It is often denoted using the percent sign (%), although the abbreviations pct., pct, and sometimes pc are also used. A percentage is a dimensionless number (pure number), primarily used for expressing proportions, but percent is nonetheless a unit of measurement in its orthography and usage.
The change in the price level is calculated by finding the percentage decrease from the initial Consumer Price Index (CPI) to the final CPI. To calculate the change from 2009 to 2010 where the CPI for real estate decreased from 140 to 132, we use the formula: Percentage Change = ((Final CPI - Initial CPI) / Initial CPI) * 100. Plugging in the values gives: Percentage Change = ((132 - 140) / 140) * 100, Percentage Change = (-8 / 140) * 100, Percentage Change = -5.71%. Therefore, the price level decreased by -5.71 percent, which corresponds to option b.