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QUESTION
In 1950, a Pepsi cost a nickel, a hamburger cost a quarter, and a loaf of white bread cost a dime. The value of the CPI in 1950 was 27. In 1999, a...
In 1950, a Pepsi cost a nickel, a hamburger cost a quarter, and a loaf of white bread cost a dime. The value of the CPI in 1950 was 27. In 1999, a Pepsi costs 75 cents, a hamburger costs $1.50, and a loaf of white bread costs $1.10. The current CPI is 211.7. Which of these goods is really more expensive now than in 1950? Which is really less expensive?
