Question: 1998 Price. Using the 1980 price as the reference value, the gasoline price index for 1998 is 0.9. What was the cost of a gallon

1998 Price. Using the 1980 price as the reference value, the gasoline price index for 1998 is 0.9. What was the cost of a gallon of gasoline in 1998?

use the gasoline price index from Table 1.

Briefly explain your reasoning in each case.

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