Multiple Choice
In 1976, the cost of a movie was $4. In 2012, it's $9. If the CPI for 1976 is 56, and 228 for 2012, to find the real 2012 value of a 1976 movie, we would multiply its nominal value in 1976 by the ratio of:
A) (56/228) .
B) (228/56) .
C) (9/5) .
D) (5/9) .
Correct Answer:
Verified
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