Assume that the CPI in 2014 was 217,while the CPI in 1986 was 82.If a person had $5000 in 1986,its equivalent purchasing power in 2014 would be $10 850.

Name: Assume that the CPI in 2014 was 217,while the CPI in 1986 was 82.If a person had $5000 in 1986,its equivalent purchasing power in 2014 would be $10 850.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

To find the equivalent purchasing power, adjust for inflation using the CPI ratio: ($5000 * 217) / 82 = $13,231.71, not $10,850.

Assume That the CPI in 2014 Was 217,while the CPI