TABLE 8.1The Consumer Price Index, 1900-2018 (2018 = 100)YearCPIYearCPI19003.24198032.8119306.65199052.0519509.59200068.58196011.80201086.84197015.472018100.00Source: Samuel H. Williamson, "The Annual Consumer Price Index for the United States, 1774-Present," MeasuringWorth, www.measuringworth.com. 1. How much is that? Using the data on the consumer price index reported in Table 8.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation):1. The salary of a worker in 1900: $1,000 per year.2. Babe Ruth's salary in 1932: $80.000.3. A bottle of Coke or Pepsi in the late 1940s: one nickel.4. A quarter pounder from McDonald's in 1972: 55 cents.5. A movie ticket to see Star Wars in 1977: about $2.25.6. A pack of M&M candies in 1991: 45 cents.

The measure that depicts the average weighted basket of goods and services being purchased by the…

1. How much is that? Using the data on the consumer price index reported in Table S.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation): 1. The salary of a worker in 1900: $1,000 per year. 2. Babe Ruth's salary in 1932: $80,000. 3. A bottle of Coke or Pepsi in the late 1940s: one nickel. 107 íí u

1. How much is that? Using the data on the consumer price index reported in Table S.1, calculate the value in 2018 of the following items (refer to the nearest year in the table to do each calculation): 1. The salary of a worker in 1900: $1,000 per year. 2. Babe Ruth's salary in 1932: $80,000. 3. A bottle of Coke or Pepsi in the late 1940s: one nickel. 107 íí u

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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