Question
The nominal price (per pound) of apples for each year is shown in the timeline below. What is the real price of apples in year
The nominal price (per pound) of apples for each year is shown in the timeline below.
What is the real price of apples in year 2002 (as seen from year 2001).
Calculate your answer to the nearest penny (e.g., 3.81)
| Year | 2001 | 2002 | 2003 | 2004 |
| Nominal Price | $2.31 | $2.55 | $2.57 | $2.77 |
| Price Level | 151 | 154 | 156 | 158 |
| Price Adjustment | ||||
| Real Price |
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Principles Of Managerial Finance
Authors: Lawrence J Gitman, Chad J Zutter
7th Edition
0133546403, 9780133546408
