If the CPI was 90 in 1975 and is 225 today, then $1,000 today purchases the...
If the CPI was 90 in 1975 and is 225 today, then $1,000 today purchases the same amount of
goods and services as $___________ purchased in 1975
Homework Answers
Answer
The amount in x year prices from y year =(Amount in y year /CPI in y year)* CPI in x year
The amount in 1975=(1000/225)*90
=400
$1,000 today purchases the same amount of goods and services as $400 purchased in 1975.
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