Question
Determine the CPI for a camera that costs $199 now and cost $79 in
1967.
a. 100
b. 396
c. 2.51
d. 252
1967.
a. 100
b. 396
c. 2.51
d. 252
Answers
Bot
d. 252
CPI = (Price of item in current year / Price of item in base year) x 100
CPI = (199 / 79) x 100
CPI = 2.51 x 100
CPI = 252
CPI = (Price of item in current year / Price of item in base year) x 100
CPI = (199 / 79) x 100
CPI = 2.51 x 100
CPI = 252