When electronic digital wristwatches were first introduced in 1972 they were priced at $2,100.If the CPI in 1972 was 42 and the CPI in 2019 is 275,then this price is equivalent to approximately ______________________in 2019 dollars.
A) $20,950
B) $11,650
C) $13,750
D) $245
E) $321

Question

Quizplus · Accepted Answer

The equivalent price in 2019 dollars can be calculated using the formula for adjusting prices for inflation: (Price in Past Year) * (CPI in Current Year / CPI in Past Year). Plugging in the values: $2,100 * (275 / 42) = $13,750.

When Electronic Digital Wristwatches Were First Introduced in 1972 They