Answer:
d) What cost $100 in 1983 on average cost $154 more in 2019.
Explanation:
As we know that
Nominal Value = (Real Value ÷ 100) × CPI
So,
Value in the year 2019 is
= ($100 ÷ 100) × 254
= 254
Now the average cost is
= 254 - 100
= 154
This amount is more in the year 2019 as compared with the 1983 year
Hence, the correct option is d.
We simply applied the above formula so that the correct statement could come
And, the same is to be considered
