The average price of milk per gallon was $1.85 in 1980 and $4.53 in 2017. The consumer price index was 132.4 in 1980 and 231.7 in 2017. Therefore, the real price of milk in 2017 expressed in 1980 dollars was.

The average price of milk per gallon was $1.85 in 1980 and $4.53 in 2017. The consumer price index was 132.4 in 1980 and 231.7 in 2017. Therefore, the real price of milk in 2017 expressed in 1980 dollars was.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter11: Labor Markets

Section: Chapter Questions

Problem 1SQ

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The average price of milk per gallon was $1.85 in 1980 and $4.53 in 2017. The
consumer price index was 132.4 in 1980 and 231.7 in 2017. Therefore, the real
price of milk in 2017 expressed in 1980 dollars was......

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