reyesomar5464 reyesomar5464

18-03-2020
Business

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Suppose that you were born in 2001. Also, suppose that your mother received a $100 baby shower gift at your birth. How much would it cost to buy a similar amount of goods and services in 2018, given that the CPI was 177.1 in 2001 and 251.1 in 2018?

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Trinityhagerty Trinityhagerty

18-03-2020

Answer:

$155.51

Explanation:

amount in 2015=amount in 1995x (price level 2015/price level 1995)

=$100x (237/152.4)

=$155.51

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