Assuming a price index calculated 104.5 in 2013,compared with 100 in 2012,for a bundle of goods,what is the current purchasing power of every dollar,compared to 2012?

Name: Assuming a price index calculated 104.5 in 2013,compared with 100 in 2012,for a bundle of goods,what is the current purchasing power of every dollar,compared to 2012?
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Question

Quizplus · Accepted Answer

The purchasing power of every dollar compared to 2012 can be calculated as 100 / 104.5 = 0.9569, or 95.69 cents in every dollar, on average.

Assuming a Price Index Calculated 104