Multiple Choice
You know that a chocolate bar cost five cents in 1962. You also know the CPI for 1962 and the CPI for today. Which of the following would you use to compute the price of the candy bar in today's prices?
A) 5 cents * (1962 CPI/ today's CPI)
B) 5 cents * (1962 CPI/(today's CPI - 1962 CPI) )
C) 5 cents * (today's CPI/1962 CPI)
D) 5 cents * today's CPI - five cents * 1962 CPI
Correct Answer:
Verified
Correct Answer:
Verified
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