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If the Consumer Price Index in 2007 Is 25 Times

Question 6

Multiple Choice

If the consumer price index in 2007 is 25 times that of 1860, and a slave cost $2,000, how much is that in terms of 2007 dollars?

A) $12,500
B) $25,000
C) $50,000
D) $75,000
E) $750,000

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