In 2015, the Wendy's Junior Cheeseburger Deluxe was on the "Right Price Right Size" menu and was priced at $1.89. If the CPI in 1979 was 72.6 and the CPI in 2015 was 237.0, what is the price of a 2015 cheeseburger in 1979 dollars?

Question

Quizplus · Accepted Answer

To find the price of the cheeseburger in 1979 dollars, use the formula: (Price in 2015) * (CPI in 1979 / CPI in 2015). So, $1.89 * (72.6 / 237.0) = $0.58.

In 2015, the Wendy's Junior Cheeseburger Deluxe Was on the "Right