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For the indicated years, the nominal price of a particular desk and the value of the...

For the indicated years, the nominal price of a particular desk and the value of the Consumer Price Index (CPI) are provided below.

Year 1970      1980      1990     2000       2016

Nominal Price

of Desk             $480      $570      $665     $690       $810

CPI 38.8      82.4      130.7 172.2 241.7

a. Calculate the real price of the desk in the year 1980 in 2016 dollars.

b. Calculate the real price of the desk in the year 2000 in 2016 dollars.

c. Calculate the percentage change in the real price of the desk between 1980 and 2000.

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