The value of the CPI increases from 151 in year 1 to 179 in year 2. This means that a good costing $249 in year 1 would on average cost how much in year 2? Round your answer to two decimal places.
The value of the CPI increases from 151 in year 1 to 179 in year 2. This means that a good costing $249 in year 1 would on average cost how much in year 2? Round your answer to two decimal places.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 3WNG
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Transcribed Image Text:The value of the CPI increases from 151 in year 1 to 179 in year 2. This means that a good costing $249 in year 1 would on average cost how much in year 2? Round your answer to two decimal places.
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