Which is the correct answer????
Many economists estimate that the total monetary costs including
continuing financial support for veterans of the Iraq War to be
approximately $3 trillion (or $3,000 billion) in today’s dollars.
We can compare this spending on the Iraq War with spending on
another costly war that lasted from 1941-1945. According to the
Congressional Research Service, total U.S. spending on World War II
including continued veteran support was $321 billion (in 1945
dollars). Calculate U.S. spending on WW II in today's
(2019)dollars?
Question 5 options:
$4.56 trillion |
|
$14.33 trillion |
|
$8.56 trillion |
|
$22.6 trillion |
Spending in 1945 = $321 billion
Spending now = $3 trillion
CPI in 1945 = 18
CPI nw = 255.66
CPI have grown by 255.66 / 18 = 14.2 times since 1945 till now.
Thus, spending now in WW2 in today's dollar would be 14.2 times of $321 billion which is $4.56 trillion.
Option A is correct.
Which is the correct answer???? Many economists estimate that the total monetary costs including continuing financial...
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