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Answer :
Final Answer:
The 2000 price of a taco in 1970 dollars is $0.29 (B).
Explanation:
To calculate the 2000 price of a taco in 1970 dollars, we need to adjust the 2000 price for inflation using the Consumer Price Index (CPI). The formula for this adjustment is:
Adjusted Price = (Current Price / Current CPI) * Base Year CPI
In this case, the current price in 2000 is $1.09, the current CPI in 2000 is 172.2, and the base year CPI in 1970 is 38.8. Plugging these values into the formula:
Adjusted Price = ($1.09 / 172.2) * 38.8 = $0.245
So, the 2000 price of a taco in 1970 dollars is approximately $0.25.
However, none of the provided answer choices match this result. The closest option is $0.29 (B), which is the price of a taco in 1970 dollars rounded to the nearest cent. Therefore, the correct answer is $0.29 (B).
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