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Consider this statement: According to TVhistory.tv, who claim to document the price of television sets over time, a 27-inch RCA color TV would have cost
Consider this statement: "According to TVhistory.tv, who claim to document the price of television sets over time, a 27-inch RCA color TV would have cost around $770 in 1991. That's a little under $80 in 1939, barely enough to buy one-sixth of the RCA TV from '39, a TV that had a smaller screen and much worse picture quality." a) Verify the claim that if a 27-inch RCA color TV cost $770, that is equivalent to approximately $80 in 1939. Assume a CPI of 136.2 in 1991 and 13.9 in 1939. Use a proportion to determine the 1939 value of the tv
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