Today the price of a Jeep is $25,000. In 1970 the price was $5,000. What is the price relative?
A)$600
B)$166
C)$300
D)$400
E)None of these

Question

Quizplus · Accepted Answer

The price relative is calculated by dividing the current price by the price at a base period (in this case, 1970). So, $25,000 / $5,000 = 5. This means the price now is 5 times what it was in 1970, not matching any of the provided options.

Today the Price of a Jeep Is $25,000