Mr. Dostievsky earned $40,000 in 1999, the base year. By 2006 he was earning $80,000. If the consumer price index was at 160 in 2006, how much would Mr. Dostievsky's real wages be that year, and by what percentage would they have changed? Real wages (2006): $1 Percentage change = %

Mr. Dostievsky earned $40,000 in 1999, the base year. By 2006 he was earning $80,000. If the consumer price index was at 160 in 2006, how much would Mr. Dostievsky's real wages be that year, and by what percentage would they have changed? Real wages (2006): $1 Percentage change = %

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 34P: The total price of purchasing a basket of goods in the United Kingdom over four years is: year...

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Mr. Dostievsky earned $40,000 in 1999, the base year. By 2006 he was earning $80,000. If the consumer price index was at 160 in
2006, how much would Mr. Dostievsky's real wages be that year, and by what percentage would they have changed?
Real wages (2006): $
Percentage change =
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