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AP® Macroeconomics

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Finding the Cost of a Basket in an Earlier Year

APMACR-ZPSKS3

In 1971, the CPI for the United States was approximately 40. In 1997 , the CPI was approximately 160 . If a basket of goods cost $100 in 1997 , approximately how much would that basket have cost in 1971?

A

$400

B

$2.50

C

$120

D

$25

E

$83