The price of a taco was $0.29 in 1970 and $0.99 in 1993.The CPI was 38.8 in 1970 and 144.0 in 1993.The 1993 price of a taco in 1970 dollars is:
A)$0.08.
B)$0.27.
C)$0.34.
D)$3.67.

Name: The price of a taco was $0.29 in 1970 and $0.99 in 1993.The CPI was 38.8 in 1970 and 144.0 in 1993.The 1993 price of a taco in 1970 dollars is: A)$0.08. B)$0.27. C)$0.34. D)$3.67.
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Question

Quizplus · Accepted Answer

To find the 1993 price of a taco in 1970 dollars, adjust for inflation using the CPI: (0.99 / 144.0) * 38.8 = $0.27.

The Price of a Taco Was $0