According to bureau of labor statistics consumer price index

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Reference no: EM131969442

According to the Bureau of Labor Statistics' Consumer Price Index (CPI), $1.00 in 1913 had the same buying power as $13.20 in 1990 and $18.59 in 2003.

(a) Has the purchasing power of a dollar increased or decreased over time? What is the change in the real value of a dollar between 1913 and 2003?

(b) You bought Abba's Greatest Hits on CD for $12 in 1990. In 2003, you saw the album selling for $15. What is the change in the real price of the CD from 1990 to 2003?

Reference no: EM131969442

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