Essay
The nominal price of a 1990 laptop was $3,500 and the CPI that year was 130.7.The nominal price of a laptop in 1998 was $1,600 and the CPI that year was 163.0.What is the real price of a 1998 laptop in terms of 1990 dollars? By what percent has the real price of laptops changed?
Correct Answer:
Verified
130.7($1,600)/163 = $1,283.Per...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q2: Although there are many reasons why a
Q9: Which of the following could not possibly
Q11: A Rolling Stones song goes: "You can't
Q15: For each city across the U.S., economists
Q17: Which of the following is a normative
Q30: The "constant dollar" price is:<br>A) the real
Q36: What does it mean when the CPI
Q50: The CPI in 1970 was 38.8 and
Q63: To evaluate the potential impact of changes
Q73: Which of the following markets has the