Ask Question
BusinessBusiness
18 July, 05:07

Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2008 the CPI is 450. What does this "450" mean? a. What cost $100 in 1982 will on average cost 450 times as much in 2008. b. What cost $100 in 1982 will on average cost $450 morein 2008. c. What cost $100 in 1982 will on average cost 100/450 (or 0.22) times as much in 2008 (that is, it will cost $22 in 2008). d. What cost $100 in 1982 will on average cost $350 more.

+5
Answers (1)
  1. 18 July, 08:18
    0
    Option d. What cost $100 in 1982 will on average cost $350 more.

    Explanation:

    This is because when a base is set the initial value is 100, and at any moment this base can be compared with the current value by subtracting the base and then dividing it by the base again. With this exercise, you will get the number of times that the base has changed in time. In this example, in 2008 the CPI was 450, computing: 450-100=350/100=3.5 In dollar in 1982 is equal than 3.5 in 2008, or the same than option d
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2008 the CPI is 450. What does this "450" mean? a. What cost ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
One of the reasons why companies create the position of brand manager is to:
Answers (1)
In the triple bottom line era, businesses emphasize the need to maximize which three components as "bottom lines"
Answers (1)
Sonia creates tests for judging product safety and advises companies about how to reduce harm from use or misuse of the product. What is her career?
Answers (1)
Zoe, who is risk averse, purchased flight cancellation insurance which will cover the cost of her non-refundable $500 airline ticket if she is unable to travel due to illness.
Answers (1)
The labor force consists of Group of answer choices all people in the population aged 16 and over who are not in jail, a hospital, or an institution or in the U. S. Armed Forces.
Answers (1)
New Questions in Business
he actual cash received from cash sales was $10,680 and the amount indicated by the cash register total was $10,648. Journalize the entry to record the cash receipts and cash sales.
Answers (1)
Evelyn took out a car loan for $16,125 that has a 0% APR for the first 14 months and will be paid off with monthly payments over 6 years. For how many months will Evelyn be charged interest?
Answers (1)
When an impairment of an investment that is classified as available for sale occurs for a reason that is judged to be "other than temporary," the investment is written down to its fair value and the amount of the write-down is:-Recorded as a
Answers (1)
Which education level has the highest return on investment (ROI) ? A) High School Diploma B) Bachelor's Degree (4 years of college) C) Senior in High School D) ROI is equal for all of the above.
Answers (1)
In 2019, Meghann Carlson, a single taxpayer, has QBI of $129,100 and modified taxable income of $103,280 (this is also her taxable income before the QBI deduction). Given this information, what is Meghann's QBI deduction
Answers (1)
Home » Business » Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2008 the CPI is 450. What does this "450" mean? a. What cost $100 in 1982 will on average cost 450 times as much in 2008. b.
Sign Up Forgot Password?