Question
Suppose the nominal price of gasoline was $1.47 per gallon in 1990. The CPI in 1990 is 158.56 and the CPI in 2010 is 218.06.
Suppose the nominal price of gasoline was $1.47 per gallon in 1990. The CPI in 1990 is 158.56 and the CPI in 2010 is 218.06. What is the real price of 1990 gasoline in 2010 dollars?
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
