With base
year 2002, the CPI in 2011 and 2012 were 240 and 250, respectively. If a flat
screen TV...

Question

With base
year 2002, the CPI in 2011 and 2012 were 240 and 250, respectively. If a flat
screen TV cost $1164 in 2011 and $1200 in 2012, was the flat screen TV more
expensive in 2012? Compute the real price of the TV for each year to answer
this question.

David · Accepted Answer

With base year 2002, the CPI in 2011 and 2012 were 240 and 250, respectively. If 
a flat screen TV cost $1164 in 2011 and $1200 in 2012, was the flat screen TV 
more expensive in 2012? Compute the real price of the TV for each year to answer 
this question. 
Answer:

With base year 2002, the CPI in 2011 and 2012 were 240 and 250, respectively. If a flat screen TV cost $1164 in 2011 and $1200 in 2012, was the flat screen TV more expensive in 2012? Compute the real...

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