In 1965, the Rolling Stones played a gig in New York City; the average price of the
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Question:
In 1965, the Rolling Stones played a gig in New York City; the average price of the ticket was $4.75. By contrast, their 2013 50thAnniversary Tour, the average price of seats was $618.
Suppose the CPI for 1965 (1982-1984 base year) is 25, and for 2013, 300.
A 1965 ticket = _____1982-84 dollars
A 2013 ticket = ___________ 1982-84 dollars.
The cost of the 1965 ticket in 2013 dollars is ______.
(Record your answer without a dollar sign)
A country's real GDP rose from $1200B to $1500B while its nominal GDP rose from $1440B to $2240B.
The country'snetinflation rate over this period as measured by the GDP deflator is ______ %?
(Record your answer without a % sign).
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