9. In 2015, republican presidential candidate Donald Trump made the statement, "It has not been easy for me. It has not been easy for me. I started off in Brooklyn. My father gave me a small loan of a million dollars". Donald Trump obtained this "small loan" in 1968. In 1968 the Consumer Price Index (CPI) was 34.8. As of May 2019, the CPI was 256.092. If that "small loan" was adjusted to May 2019 dollars, how much did Donald Trump get (in 2019's currency)?

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Unemployment And Inflation
Section: Chapter Questions
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9. In 2015, republican presidential candidate Donald Trump made the statement, "It has not been easy
for me. It has not been easy for me. I started off in Brooklyn. My father gave me a small loan of a million
dollars".
Donald Trump obtained this "small loan" in 1968. In 1968 the Consumer Price Index (CPI) was 34.8. As of
May 2019, the CPI was 256.092. If that "small loan" was adjusted to May 2019 dollars, how much did
Donald Trump get (in 2019's currency)?
Transcribed Image Text:9. In 2015, republican presidential candidate Donald Trump made the statement, "It has not been easy for me. It has not been easy for me. I started off in Brooklyn. My father gave me a small loan of a million dollars". Donald Trump obtained this "small loan" in 1968. In 1968 the Consumer Price Index (CPI) was 34.8. As of May 2019, the CPI was 256.092. If that "small loan" was adjusted to May 2019 dollars, how much did Donald Trump get (in 2019's currency)?
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