Suppose that the CPI is currently 600 and was 100 in 1969.Then,according to the CPI,$300 today purchases the same amount of goods and services as what amount in 1969?

Name: Suppose that the CPI is currently 600 and was 100 in 1969.Then,according to the CPI,$300 today purchases the same amount of goods and services as what amount in 1969?
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Quizplus · Accepted Answer

The CPI has increased from 100 to 600, which means prices have increased by a factor of 6. Therefore, $300 today would be equivalent to $300/6 = $50 in 1969.

Suppose That the CPI Is Currently 600 and Was 100