In 2017, the CPI was 245.1 and a ticket to the Super Bowl cost $2,200. Use the
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In 2017, the CPI was 245.1 and a ticket to the Super Bowl cost $2,200. Use the following CPI values and the nominal Super Bowl ticket prices provided to calculate the real price of Super Bowl tickets in 1967, 1984, and 2015, expressed in 2017 dollars.
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a. CPI1967 = 33.4; ticket price = $12 b. CPI1984 = 103.9; ticket price = $60 c. CP/2015 = 237.0; ticket price = $800
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