Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Sanitation Department's budget in 2000 was $3.2 million dollars. What is this budget in 2008 constant (real) dollars, rounded to the nearest tenth of

The Sanitation Department's budget in 2000 was $3.2 million dollars. What is this budget in 2008 constant (real) dollars, rounded to the nearest tenth of a million? Use the following information to calculate your answer: CPI-U value in 2000=172.2 and CPI-U value in 2008=218.8. Formula - also given in your notes: ($ amount in Year "X") * (Goal Year CPI-U value/Year "X" CPI-U value) = ($ amount in "Goal Year dollars")

A. 1.3 million in 2008 dollars

B. 4.1 million in 2008 dollars

C. 2.5 million in 2008 dollars

D. 5.3 million in 2008 dollars

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Trade

Authors: John McLaren

1st edition

0470408790, 978-0470408797

More Books

Students also viewed these Economics questions

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago