If the CPI Was 108

question 69

Multiple Choice

If the CPI was 108.00 in 1942 and is 336.96 today,then $10 in 1942 purchased the same amount of goods and services as

• A)$2.57 purchases today.
• B)$28.89 purchases today.
• C)$31.20 purchases today.
• D)$38.89 purchases today.

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Definitions:

Average American

A term often used to describe a typical individual in the U.S. in terms of income, consumption habits, lifestyle, or socio-economic status.

Work Hours

The specific hours during a day in which an employee is expected to conduct their work duties.

Average Workweek

The typical number of hours worked by employees in a specific period, commonly calculated on a weekly basis.

Malthusian Theory

A principle suggesting that population growth is potentially exponential while the growth of the food supply or other resources is linear, leading to inevitable shortages.