The reward for the capture of Jesse James was $500.00 in 1881. Suppose the CPI in 1881 was 0.25. What is the real value of the reward in 2010 dollars if the CPI was 218.1 in 2010?
What will be an ideal response?
218.1($500 )/0.25 = 218.1($2,000 ) = $436,200.
Economics
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A) 35.75%. B) 28.57%. C) 16.86%. D) 24%.
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