A one-pound bag of cookies cost 30 cents in 1922. If the CPI in 1922 was 17 and the CPI in 2014 is 230, convert the price of the cookies into 2014 prices. Group of answer choices A) $13.52 B) $0.02 C) $11.73 D) $4.06
A one-pound bag of cookies cost 30 cents in 1922. If the CPI in 1922 was 17 and the CPI in 2014 is 230, convert the price of the cookies into 2014 prices. Group of answer choices A) $13.52 B) $0.02 C) $11.73 D) $4.06
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 9WNG
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A one-pound bag of cookies cost 30 cents in 1922. If the CPI in 1922 was 17 and the CPI in 2014 is 230, convert the price of the cookies into 2014 prices.
Group of answer choices
A) $13.52
B) $0.02
C) $11.73
D) $4.06
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