Solved

In 1971, When the Consumer Price Index Was 40

Question 71

Multiple Choice

In 1971, when the consumer price index was 40.48, men earned a median income of $6,903 per year. If the consumer price index in 2012 was 229.6, how much was $6,903 in 2012 dollars?


A) $6,903
B) $37,504.6
C) $1,217
D) $39,153.4

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q66: (Table: Peanut Butter and Jelly Prices)

Q67: Hedging against inflation means:<br>A)making oneself knowledgeable about

Q68: You purchase a certificate of deposit and

Q69: Which of the following is NOT a

Q70: What is Iceland's real GDP if its

Q72: (Table: Price Index) Use Table: Price

Q73: (Table: The Consumer Price Index) Use

Q74: (Table: The Consumer Price Index) Use

Q75: (Table: Market Basket of School Supplies)

Q76: The CPI changes from 100 to 200.