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Compute the real price of the tv for each year to answer

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Reference no: EM13314072

With base year 2002, the CPI in 2011 and 2012 were 240 and 250, respectively. If a flat screen TV cost $1164 in 2011 and $1200 in 2012, was the flat screen TV more expensive in 2012? Compute the real price of the TV for each year to answer this question.

Reference no: EM13314072

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