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The following table shows the average retail price of bread and the Consumer Price Index from 1940 to 2000 1940 1950 m 2000 CPI 29.3%

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The following table shows the average retail price of bread and the Consumer Price Index from 1940 to 2000 1940 1950 m 2000 CPI 29.3% 31.6% 112.3% 192.6% 3.50 REAL PRICE (0.?3 0.74 0.49 0.55 1940) 1. Compute/ covert the nominal the real price of bread in 1950 and 2000 2. Compute/ covert the nominal the real price of bread in 1960 Note: Show your computation

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