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If the CPI was 104 in 1967 and is 390 today, then $10 in 1967 purchased the same amount of goods and services as Group of answer choices $37.50 purchases today. $2.67 purchases today. $39.00 purchases today. $104.00 purchases today. None of the options is correct.

Respuesta :

letmeanswer

Option A

Explanation:

The following formula will be used while calculating the amount

The Amount in y year from x year dollar = ( the amount in x year / CPI of the x year) * CPI of the y year

the amount today [tex]=(10 / 104) * 390[/tex]

Solving the above equation, we get, = $37.5

the $10 in 1967 will purchase equal to the amount of $37.5 today

Therefore, the Option 1 is the correct option from the given ones.

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