Your history book cost $43 dollars in 1999. The earlier edition sold for $37 in 1992. Comparing the converted costs, which book
is more expensive? (Assume the 1999 CPI is 166.3 and the 1992 CPI is 140.3)
1 answer:
When the converted costs are compared, the earlier edition of the history book is more expensive.
<h3>Which book is more expensive?</h3>
The consumer price index measures the changes in price of a basket of good. It is used to measure inflation.
Converted price of the earlier edition = (CPI in 1992 / CPI in 1999) x later edition of the book
(140.3 / 166.3) x $43 = $36.28
To learn more about, consumer price index, please check: brainly.com/question/26382640
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