A notebook costs $2.65 when the CPI is 182. In 1983, how many notebooks could you buy with $18?

The CPI of 182 means prices are 1.82 times their 1983 level. So the notebook’s 1983 price was about $2.65 ÷ 1.82 = $1.46. With $18, you could buy $18 ÷ $1.46 ≈ 12.3 notebooks, or 12 whole notebooks. The correct choice is “twelve.”

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