24.The average price of a new house was $3,395 in 1915, when the CPI was 10.1. How much would the average new house cost in 1995 when adjusted for inflation? (The CPI in 1995 was 152.4.)






28.Which one of the following is NOT one of the major uses of the CPI?

The CPI is used to determine economic trends in the rural United States.

The CPI is used to evaluate and determine economic policy.

The CPI is used to compare prices in different years.

The CPI is used to determine salary and price adjustments.

All of the above answers are major uses of the CPI.

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