Suppose you learn that gas cost 25 cents in 1966 If you wanted to compare this in real inflation adjusted terms to the price of gas today, which of the following formulas would you be the most useful to compute Group of answer choices Nominal price of gas in 2021 CPI in 2021 CPI in 1966 Nominal pri...

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Suppose you learn that gas cost 25 cents in 1966. If you wanted to compare this in

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Suppose you learn that gas cost 25 cents in 1966. If you wanted to compare this in real-inflation adjusted terms to the price of gas today, which of the following formulas would you be the most useful to compute?

Group of answer choices

Nominal price of gas in 2021*[CPI in 2021/CPI in 1966]

Nominal price of gas in 1966 * [CPI in 1966/CPI in 2021]

Nominal price of gas in 2021*[CPI in 1966/CPI in 2021]

Real price of gas in 1966/Nominal price of gas in 1966

Posted Date: Jun 19, 2024 12:47 PM

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Suppose you learn that gas cost 25 cents in 1966. If you wanted to compare this in

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