HomeworkLib
Question

Zuniga purchased a bag of groceries in 1970 for $18. She purchased the same bag of...

Zuniga purchased a bag of groceries in 1970 for $18. She purchased the same bag of groceries in 2006 for $35. If the price index was 42.5 in 1970 and the price index was 190 in 2006, then what is the price of the 1970 bag of groceries in 2006 dollars?
Group of answer choices
$4.03
$236.91
$156.35
$25.00
$80.47
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

E) $ 80.47

Calculation of price of the 1970 bag of groceries in 2006 dollars

(Current year price index÷ base year price index)× Base year price

=( $190÷$ 42.5)×$ 18

= $ 80.47

0 0
Add a comment
Know the answer?
Add Answer to:
Zuniga purchased a bag of groceries in 1970 for $18. She purchased the same bag of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The...

    ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...

  • 1)You purchased 500 shares of stock for $28.50 a share. The initial margin requirement is 65...

    1)You purchased 500 shares of stock for $28.50 a share. The initial margin requirement is 65 percent and the maintenance margin is 35 percent. What is the maximum percentage decrease that can occur in the stock price before you receive a margin call? Group of answer choices 38 percent 62 percent 57 percent 46 percent 35 percent 2)You recently purchased 200 shares of stock at a cost per share of $32.50. The initial margin requirement on this stock is 75...

  • 18) You own 10 futures contracts on gold that you purchased at a quoted price of...

    18) You own 10 futures contracts on gold that you purchased at a quoted price of 1,483.9. The current price quote is 1,403.2. The contract size is 100 ounces and the quotes are expressed in dollars and cents per ounce. What is your current profit or loss on this investment? 19) Alicia owns 600 shares of Danube stock. She thinks the market price will continue to rise but would like to ensure that she can get at least $47.50 a...

  • 18. Wire 1 and wire 2, made of the same material, have uniform circular cross sections....

    18. Wire 1 and wire 2, made of the same material, have uniform circular cross sections. Wire 2 is twice as long as wire 1. Also, wire 2 has five times the radius of wire 1. If wire 2 has a resistance 200Ω, what is the resistance of wire 1? Group of answer choices 4Ω. 16Ω. 200Ω. 2500Ω. 10000Ω.

  • 9.If a firm has total revenue of $200 million, explicit costs of $190 million, and implicit...

    9.If a firm has total revenue of $200 million, explicit costs of $190 million, and implicit costs of $30 million, its economic profit is: Group of answer choices -$20 million. $10 million. $200 million. $70 million. -$10 million. 18. Which of the following would raise both the equilibrium price and the equilibrium quantity of strawberries? Group of answer choices A decrease in the supply of strawberries. A decrease in the demand for strawberries. An increase in the demand for strawberries....

  • Whether an action is morally right or wrong is the same issue as whether it is?...

    Whether an action is morally right or wrong is the same issue as whether it is? Group of answer choices legally acceptable none of the others socially acceptable personally desirable Flag this Question Question 23 pts According to Darwin, creatures with the following properties are likely to develop a moral sense? Select all that apply. Group of answer choices have lengthy gestation periods possess language are mammals can develop habits are intelligent have social instincts/sympathies are bipedal Flag this Question...

  • 1. Jennifer purchased 200 shares of stock at $40 using her 70% margin account. Her maintenance margin is 40%. Jennifer has no othersecurities in her account. At what price per share will she rece...

    1. Jennifer purchased 200 shares of stock at $40 using her 70% margin account. Her maintenance margin is 40%. Jennifer has no othersecurities in her account. At what price per share will she receive a margin call? 2. An index consists of the following securities. What is the value-weighted index return? Shares Outstanding Beginning Ending Share Price $28.50 $31.00 Stock Morgan, Inc. 5,000 Taylor, Ltd. 7,500 $25.00 $28.00 A portfolio consisting of four stocks is expected to produce returns of...

  • GDP is defined as the Group of answer choices value of all goods and services produced...

    GDP is defined as the Group of answer choices value of all goods and services produced within a country in a given period of time. value of all goods and services produced by the citizens of a country, regardless of where they are living, in a given period of time. value of all final goods and services produced within a country in a given period of time. value of all final goods and services produced by the citizens of a...

  • Mrs. Smith came in through the front door of her house with an armful of groceries....

    Mrs. Smith came in through the front door of her house with an armful of groceries. She put the bag down on the kitchen counter and called to her husband. “Honey, I’m home! Are you ready for lunch?” She didn’t get an answer, so she walked to the living room and found Mr. Smith lying on the floor. “Honey! Are you okay?” she asked as she grabbed his shoulder. Mr. Smith responded weakly while clutching his chest. Mrs. Smith frantically...

  • Question 30 The firms that a company partners with to actively promote and sell a product...

    Question 30 The firms that a company partners with to actively promote and sell a product as it travels through its marketing channel to users are referred to by the firm as its _____. Group of answer choices channel members marketing partners supply members corporate members Question 31 Which of the following is the least risky global entry strategy? Group of answer choices Franchising Joint venture Exporting Direct foreign investment Question 32 Mary ran into a store dedicated to the...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT