Use the Consumer Price Index Below to Answer the Question

question 232

Multiple Choice

Use the Consumer Price Index below to answer the question. $$\begin{array}{l}\text { Average Annual Consumer Price Index (1982-1984 = 100) }\\\begin{array} { c | c | c | c | c | c } \text { Year } & \text { CPI } & \text { Year } & \text { CPI } & \text { Year } & \text { CPI } \\\hline 1986 & 109.6 & 1995 & 152.4 & 2004 & 188.9 \\1987 & 113.6 & 1996 & 156.9 & 2005 & 195.3 \\1988 & 118.3 & 1997 & 160.5 & 2006 & 201.6 \\1989 & 124.0 & 1998 & 163.0 & 2007 & 207.3 \\1990 & 130.7 & 1999 & 166.6 & 2008 & 215.3 \\1991 & 136.2 & 2000 & 172.2 & 2009 & 214.5 \\1992 & 140.3 & 2001 & 177.1 & 2010 & 218.1 \\1993 & 144.5 & 2002 & 179.9 & 2011 & 224.9 \\1994 & 148.2 & 2003 & 184.0 & 2012 & 229.6\end{array}\end{array}$$
-What was the purchasing power of $1 in 1987 in terms of 1996 dollars?

• A)$1.51
• B)$1.33
• C)$1.38
• D)$0.72

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