EBK PRINCIPLES OF MACROECONOMICS
6th Edition
ISBN: 9780073534701
Author: Frank
Publisher: YUZU
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Question
Chapter 5, Problem 5.4CC
To determine
Comparison of Person R’s 2009 real earnings to Person B’s 2001 real earnings.
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Assume the CPI was 100.0 in 2002 and 125.2 in 2014. Jan’s wage at ABC Innovation was $60,000 in 2002 and had increased to $70,000 by 2014. After adjusting for inflation, what was Jan’s “real” wage in 2014 relative to what she was earning in 2002?
Chapter 5 Solutions
EBK PRINCIPLES OF MACROECONOMICS
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