a) If the price of a train ticket from New York to Washington DC rose by the rate of inflation between 1995 and 2016, how much would a ticket cost in 2016 if it cost $100 in 1995? Instructions: Round your answer to two decimal places. $ 150
a) If the price of a train ticket from New York to Washington DC rose by the rate of inflation between 1995 and 2016, how much would a ticket cost in 2016 if it cost $100 in 1995? Instructions: Round your answer to two decimal places. $ 150
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
My 150 answer is incorrect. Please help me with question A. Thank you!.
![a) If the price of a train ticket from New York to Washington DC rose by the rate of inflation between 1995 and 2016, how much would a
ticket cost in 2016 if it cost $100 in 1995? Instructions: Round your answer to two decimal places. $|
150
b) If the price of a movie ticket did not change in real terms between 2010 and 2016, how much did a ticket cost in 2010 if it cost
$12.50 in 2016? Instructions: Round your answer to two decimal places. $ 11.40](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff93ee0c2-a3d2-410a-8d61-381ceafadbc6%2Ffe55eea1-1b26-45af-a799-391bd3d519c3%2Fduyadwp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:a) If the price of a train ticket from New York to Washington DC rose by the rate of inflation between 1995 and 2016, how much would a
ticket cost in 2016 if it cost $100 in 1995? Instructions: Round your answer to two decimal places. $|
150
b) If the price of a movie ticket did not change in real terms between 2010 and 2016, how much did a ticket cost in 2010 if it cost
$12.50 in 2016? Instructions: Round your answer to two decimal places. $ 11.40
![300
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120
100
80
60
40
20
GRAPH
1982-1984 100.00
1984
1960
1965 1970
1975
1980
1985 1990
1995
2000
2005
2010
2015
The interactive below allows for comparing prices in the past to the present.
Instructions: Use this tool to answer the questions below.
Consumer Price Index
SETTINGS
1960
Price Then ($)
10.00
Price Now ($)
10.00
Reset
PRICE CALCULATIONS
CPI
1984
= 105.30
2016
Year
1984
Price Then
$10.00
$4.39
Price Now
$22.79
$10.00
(CPI data not seasonally adjusted. Source: BLS)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff93ee0c2-a3d2-410a-8d61-381ceafadbc6%2Ffe55eea1-1b26-45af-a799-391bd3d519c3%2Fttt6feu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
GRAPH
1982-1984 100.00
1984
1960
1965 1970
1975
1980
1985 1990
1995
2000
2005
2010
2015
The interactive below allows for comparing prices in the past to the present.
Instructions: Use this tool to answer the questions below.
Consumer Price Index
SETTINGS
1960
Price Then ($)
10.00
Price Now ($)
10.00
Reset
PRICE CALCULATIONS
CPI
1984
= 105.30
2016
Year
1984
Price Then
$10.00
$4.39
Price Now
$22.79
$10.00
(CPI data not seasonally adjusted. Source: BLS)
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