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worty [1.4K]
3 years ago
7

In 1972, one could buy a bag of chips, a pound of hamburger, a package of buns, and a small bag of charcoal for about $2.50. If

the same goods today cost $6.00, then which pair of CPIs would make the cost in today's dollars the same for both years?a. 65 in 1972 and 156 today
b. 90 in 1972 and 145.8 today
c. 75 in 1972 and 160 today
d. 60 in 1972 and 150 today
Business
1 answer:
Rainbow [258]3 years ago
5 0

Answer:

a. 65 in 1972 and 156 today

Explanation:

The relationship between CPI should be the same as the prices:

price today / price 1972 = CPI today / CPI 1972

          6      /       2.50      = 2.4

Now we divide the given CPI and look for the correct answer:

<em>a) 156/65 = 2.4</em>

b) 145.8 / 90 = 1.62

c) 160/75 = 2.1333333

d) 150/60 = 2.5

the first option matches the relationship between prices thus, is the correct one.

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Answer:

$42,000

Explanation:

Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.

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Therefore the amount of the deferred tax liability at the end of 2021 will be $42,000

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Read 2 more answers
What is a diversionary incentive?
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