Your income was $25,000 in 2009 and $25,500 in 2010. The CPI was 217.2 in 2009 and
Question:
Your income was $25,000 in 2009 and $25,500 in 2010. The CPI was 217.2 in 2009 and 220.2 in 2010. This means that
a. Your real income has fallen.
b. Your real income has risen.
c. Your real income has not changed.
d. There is not enough information to determine what happened to your real income.
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Step by Step Answer:
To determine the change in your real income you can use the following formula Real Incom...View the full answer
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Related Book For 
Introduction To Economics Social Issues And Economic Thinking
ISBN: 9780470574782
1st Edition
Authors: Wendy A. Stock
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