The nominal price of a 1990 laptop was $3,500 and the CPI that year was 130.7. The nominal price of a laptop in 2010 was $600 and the CPI that year was 218.1. What is the real price of a 2010 laptop in terms of 1990 dollars? By what percent has the real price of laptops changed?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q57: Which of the following goods is NOT
Q58: From Example 1.2 in the textbook, Pindyck
Q59: Since last year, the price of gold
Q60: The "constant dollar" price is:
A) the real
Q61: Which of the following is NOT an
Q63: We can approximate the real return on
Q64: When Toyota introduced the new Prius in
Q65: Suppose we expect consumer prices to increase
Q66: The first column of the following table
Q67: The price to attend a NBA basketball
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents