Given the following year-end data, calculate both the inflation rate and the real hourly wage rate for

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Given the following year-end data, calculate both the inflation rate and the real hourly wage rate for years 2, 3, and 4.

Inflation Nominal Real CPI Year Rate Wage Wage $10.00 100 2 $12.00 110 3 120 $13.00 $12.75 4 115 |||

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Macroeconomics Principles and Applications

ISBN: 978-1111822354

6th edition

Authors: Robert E. Hall, Marc Lieberman

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Question Posted: Jun 09, 2018 08:05 AM

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Given the following year-end data, calculate both the inflation rate and the real hourly wage rate for

Question:

Inflation Nominal Real CPI Year Rate Wage Wage $10.00 100 2 $12.00 110 3 120 $13.00 $12.75 4 115 |||

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Macroeconomics Principles and Applications

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