In 1980 the price of microwave oven was $382 and CPI was 105. Today the price of a microwave oven is $266 and CPI is 242. What is the 1980 price of microwave oven measured in todays dollars? (Round to two decimal places.) Your Answer:
In 1980 the price of microwave oven was $382 and CPI was 105. Today the price of a microwave oven is $266 and CPI is 242. What is the 1980 price of microwave oven measured in todays dollars? (Round to two decimal places.) Your Answer:
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN:9781305280601
Author:William J. Baumol, Alan S. Blinder
Publisher:William J. Baumol, Alan S. Blinder
Chapter6: How Statisticians Measure Inflation
Section6.A: How Statisticians Measure Inflation
Problem 5TY
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![In 1980 the price of microwave oven was $382 and CPI was 105. Today the price of
a microwave oven is $266 and CPI is 242.
What is the 1980 price of microwave oven measured in todays dollars? (Round to
two decimal places.)
Your Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff114c384-183f-4104-8193-e2b3797a6a13%2Fb054e3a6-4c80-4c77-abff-6e23331d84c6%2F5bytdw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In 1980 the price of microwave oven was $382 and CPI was 105. Today the price of
a microwave oven is $266 and CPI is 242.
What is the 1980 price of microwave oven measured in todays dollars? (Round to
two decimal places.)
Your Answer:
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