Answered: The consumer price index increased from…

The consumer price index increased from 220 to 253. If you received a raise equal to 10% during this time period then your real income has decreased. True False

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The consumer price index increased from 220 to 253. If you received a raise equal to 10% during
this time period then your real income has decreased.
True
False

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