Table 25-4Adam’s expenditures on food for three consecutive…
Table 25-4Adam’s expenditures on food for three consecutive years, along with other values, are presented in the following table. Year1 2 3Expenditures on food$9,000$9,200$10,200Consumer price index130139xRefer to Table 25-4. Suppose the consumer price index is 7.5 percent higher in Year 3 than in Year 1. Then Adam’s food expenditures for Year 2 in Year 3 dollars amount to