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nakungth nakungth
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6 years ago
Suppose the nominal price of gasoline was $0.90 per gallon in 1987.  To convert this value to the real price of 1987 gasoline in 2012 dollars, we should:
A) multiply by the 1987 CPI and divide by the 2012 CPI.
B) multiply by the 2012 CPI and divide by the 1987 CPI.
C) not do anything because this is the real price in 2012 dollars.
D) none of the above
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
Read 72 times
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Bart_argBart_arg
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nakungth Author
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#2
5 years ago
Thank you!
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