1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Makovka662 [10]
3 years ago
7

The price of a gallon of gasoline was $0.35 in 1972 when the CPI equaled 0.418. The price of a gallon of gasoline was $2.25 in 2

005 when the CPI equaled 1.68. The real price of a gallon of gasoline between 1972 and 2005:
Business
1 answer:
lana66690 [7]3 years ago
3 0

Answer:

increased

Explanation:

Data provided in the question:

Price of a gallon of gasoline in 1972 = $0.35

CPI in 1972 = 0.418

Price of a gallon of gasoline in 2005 = $2.25

CPI in 2005 = 1.68

Now,

Real cost in 1972 = [ Nominal cost in 1972 ] ÷ [ CPI in 1972 ]

= $0.35 ÷ 0.418

= $0.837

Real cost in 2005 = [ Nominal cost in 2005 ] ÷ [ CPI in 2005 ]

= $2.25 ÷ 1.68

= $1.34

Hence,

The price of gallon of gasoline increased between 1972 and 2005

You might be interested in
Vitafluid, a health drink, is available at all supermarkets. After research, the marketing team of the branddiscovered that 90 p
Vsevolod [243]
In this scenario, the teenage group can be referred to as a minority.

The majority of people who like the drink are no teenagers. The majority of drinkers are 30-40.

5 0
3 years ago
Assume the following: The standard labor rate per hour is $17.00. The standard labor-hours allowed per unit of finished goods is
andreyandreev [35.5K]

Answer: $17,000

Explanation:

Labour efficiency variance = Standard rate * (Standard hours - Actual hours )

Standard hours:

= Standard labor-hours allowed per unit * Number of units produced in period

= 3 * 15,000

= 45,000 hours

Labor efficiency variance = 17 * (45,000 - 44,000)

= $17,000 Favorable

<em>Favorable because the standard amount is higher than the actual amount. </em>

6 0
2 years ago
Who here plays 7ds grandcross
ololo11 [35]

Answer:

not me

Explanation:

3 0
3 years ago
Stressors and negative emotions are both
frozen [14]

its C ma dood !  kdn      

3 0
2 years ago
In the book Romeo and juliet what is Juliet's dads name​
Amiraneli [1.4K]

Answer:

Lord Fulgencio Capulet

Explanation:

8 0
3 years ago
Other questions:
  • Marla, a bookkeeper, would like to work at home in order to be with her young children. But before setting up her home-based boo
    14·2 answers
  • Fois Company has two divisions, Division X and Division Y. Division X has a production capacity of 5,000 units of a particular p
    6·1 answer
  • New entrants to an industry are more likely when:a. differentiation among existing competitors is highb. access to distribution
    12·1 answer
  • Why is this topic a problem, especially for teen drivers? 2. find two statistics that prove your topic is a problem for teen dri
    15·1 answer
  • Suppose that in the base period a college student buys 20 gallons of gasoline at $2 per gallon, 2 CDs for $13 each, and 4 movie
    6·1 answer
  • The valuation of a financial asset is based on the concept of determining the present value of future cash flows that this finan
    14·1 answer
  • A company owns a 5-year old turret lathe that has a book value of $20,000. The present market value of the lathe is $16,000. A n
    9·1 answer
  • Oozyil623 Corporation's third quarter budgeted sales and production numbers are below: July August September Sales in units 46,5
    10·1 answer
  • The emphasis in marketing is on the identification and satisfaction of:
    8·1 answer
  • 3. Why is bell work an important part of the learning process?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!