Essay
Compute how much each of the following is worth in terms of today's dollars using 197 as the price index for today.
a. In 1936, the CPI was 17.7 and the price of a movie ticket was $0.25
b. In 1942, the CPI was 13.1 and a cook earned $15.00 a week
c. In 1953, the CPI was 17.4 and a litre of gas cost $0.06
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a. The movie ticket is worth $0.25 × 197...View Answer
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