Question: Index Numbers Problem Nominal 2000 = 100 2005 = 100 Real Purchasing Current $ Price Price Constant $ Power Year Earnings Index Index Earnings of

Index Numbers Problem

Nominal 2000 = 100 2005 = 100 Real Purchasing

Current $ Price Price Constant $ Power

Year Earnings Index Index Earnings of $1

2003 $1,096 131.7 131.7 832.2 0.75930144

2004 $1,194 139.3 139.3 857.1 0.71787509

2005 $1,314 149.1 149.1 881.3 0.67069081

2006 $1,474 162.5 162.5 907.1 0.61538462

2007 $1,650 179.0 179 921.8 0.55865922

Growth Rate in Real Earnings (2005 = 100) between 2003 and 2007?

2000=100

Year Index #1 Index #1 Index #2 Factor spliced Index

1998 100

1999 116.2

2000 124.5

2001 142.7 174.3

2002 192.4 x

2003 205.7 x

2004 239.2 x

thats all the professor gave me

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