Spending on pharmaceuticals increased from $520 billion in 2016 to $603 billion in 2021. The Consumer Price Index (CPI) also increased from 241.432 in 2016 to 278.802 in 2021. What was the adjusted spending in 2021 dollars for 2016?
a. $45
b. $520 billion
c. $603 billion
d. $45 billion