Multiple Choice
The Consumer Price Index (1982-84 = 100) was about 207 in 2007. In 1989, the CPI was 124. Tuition for in-state students at one Big Ten university was $2032 in 1989. In 2007 dollars, this tuition is equivalent to
A) 2032 × (2007/1989) = $2050.
B) 2032 × (207/100) = $4206.
C) 2032 × (124/207) = $1217.
D) 2032 × (207/124) = $3392.
Correct Answer:
Verified
Correct Answer:
Verified
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