uppose in 1981 the retail price of a VCR at Sears was $1, 389.88. What would be he cost of that VCR today's dollars? Hint: You will need the CPI of both years to discover this. Use the nnual CPI for 1981 and the annual CPI from 2019 at bls.gov.

uppose in 1981 the retail price of a VCR at Sears was $1, 389.88. What would be he cost of that VCR today's dollars? Hint: You will need the CPI of both years to discover this. Use the nnual CPI for 1981 and the annual CPI from 2019 at bls.gov.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Don't use pen or paper

Suppose in 1981 the retail price of a VCR at Sears was $1, 389.88. What would be
the cost of that VCR
in today's dollars? Hint: You will need the CPI of both years to discover this. Use the
annual CPI for 1981 and the annual CPI from 2019 at bls.gov.
Select one:
a. $1,389.88
b. $4,312.29
O c. $2,000.00
Od. $3,389.88
Oe. none of the above
Check

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