Real value in today dollars

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Reference no: EM132066030

Are comic books more expensive today than when the first Spider Man comics came out in the 1960s? Specifically, how much would a 12-cent comic in 1967 cost equivalently in today's money? Show your work using the ratio of the two years' CPI's times the nominal price.

The formula: real value in today's dollars = nominal value in old dollars * (CPI today/ old CPI).

Reference no: EM132066030

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