Use the Consumer Price Index below to answer the question. $$\begin{array}{l}
\text { Average Annual Consumer Price Index (1982-1984 = 100) }\
\begin{array} { c | c | c | c | c | c }
\text { Year } & \text { CPI } & \text { Year } & \text { CPI } & \text { Year } & \text { CPI } \
\hline 1986 & 109.6 & 1995 & 152.4 & 2004 & 188.9 \
1987 & 113.6 & 1996 & 156.9 & 2005 & 195.3 \
1988 & 118.3 & 1997 & 160.5 & 2006 & 201.6 \
1989 & 124.0 & 1998 & 163.0 & 2007 & 207.3 \
1990 & 130.7 & 1999 & 166.6 & 2008 & 215.3 \
1991 & 136.2 & 2000 & 172.2 & 2009 & 214.5 \
1992 & 140.3 & 2001 & 177.1 & 2010 & 218.1 \
1993 & 144.5 & 2002 & 179.9 & 2011 & 224.9 \
1994 & 148.2 & 2003 & 184.0 & 2012 & 229.6
\end{array}
\end{array}$$
-In 1992, Sue rented out her apartment for $760 per month. In 2000 she charged $800 per
month.
Convert the 1992 price to 2000 dollars. In real terms, how does the actual price in 2000
compare to the price in 1992? Explain your reasoning.

Question

Use the Consumer Price Index below to answer the question. $$\begin{array}{l}
\text { Average Annual Consumer Price Index (1982-1984 = 100) }\
\begin{array} { c | c | c | c | c | c } 
\text { Year } & \text { CPI } & \text { Year } & \text { CPI } & \text { Year } & \text { CPI } \
\hline 1986 & 109.6 & 1995 & 152.4 & 2004 & 188.9 \
1987 & 113.6 & 1996 & 156.9 & 2005 & 195.3 \
1988 & 118.3 & 1997 & 160.5 & 2006 & 201.6 \
1989 & 124.0 & 1998 & 163.0 & 2007 & 207.3 \
1990 & 130.7 & 1999 & 166.6 & 2008 & 215.3 \
1991 & 136.2 & 2000 & 172.2 & 2009 & 214.5 \
1992 & 140.3 & 2001 & 177.1 & 2010 & 218.1 \
1993 & 144.5 & 2002 & 179.9 & 2011 & 224.9 \
1994 & 148.2 & 2003 & 184.0 & 2012 & 229.6
\end{array}
\end{array}$$
-In 1992, Sue rented out her apartment for $760 per month. In 2000 she charged $800 per
month.
Convert the 1992 price to 2000 dollars. In real terms, how does the actual price in 2000
compare to the price in 1992? Explain your reasoning.

Quizplus · Accepted Answer

The Answer of Use the Consumer Price Index below to answer the question. $$\begin{array}{l}
\text { Average Annual Consumer Price Index (1982-1984 = 100) }\
\begin{array} { c | c | c | c | c | c } 
\text { Year } & \text { CPI } & \text { Year } & \text { CPI } & \text { Year } & \text { CPI } \
\hline 1986 & 109.6 & 1995 & 152.4 & 2004 & 188.9 \
1987 & 113.6 & 1996 & 156.9 & 2005 & 195.3 \
1988 & 118.3 & 1997 & 160.5 & 2006 & 201.6 \
1989 & 124.0 & 1998 & 163.0 & 2007 & 207.3 \
1990 & 130.7 & 1999 & 166.6 & 2008 & 215.3 \
1991 & 136.2 & 2000 & 172.2 & 2009 & 214.5 \
1992 & 140.3 & 2001 & 177.1 & 2010 & 218.1 \
1993 & 144.5 & 2002 & 179.9 & 2011 & 224.9 \
1994 & 148.2 & 2003 & 184.0 & 2012 & 229.6
\end{array}
\end{array}$$
-In 1992, Sue rented out her apartment for $760 per month. In 2000 she charged $800 per
month.
Convert the 1992 price to 2000 dollars. In real terms, how does the actual price in 2000
compare to the price in 1992? Explain your reasoning.

Use the Consumer Price Index Below to Answer the Question