What is the real price of a 1998 laptop in terms of 1990, Ask an Expert

Economics

The nominal price of a 1990 laptop was $3,500 and the CPI that year was 130.7. The nominal price of a laptop in 1998 was $1,600 and the CPI that year was 163.0. What is the real price of a 1998 laptop in terms of 1990 dollars? By what percent has the real price of laptops changed?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M972302

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