In 1976, the cost of a movie was $4. In 2012, it's $9. If the CPI for 1976 is 56, and 228 for 2012, then we could say the cost of a 1976 movie in 2012 would be:
A. $16.29, so the cost of movies has not increased as much as general inflation.
B. $16.29, so the cost of movies is relatively more in 2012 than it was in 1976.
C. $2.21, so the cost of movies has not increased as much as general inflation.
D. $2.21, so the cost of movies is relatively more in 2012 than it was in 1976.
Answer: A
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.