Suppose the Consumer Price Index in 2013 is 124.3, with 2002 as the base year. (a) What

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Suppose the Consumer Price Index in 2013 is 124.3, with 2002 as the base year.
(a) What is the purchasing power of the dollar in 2013 compared to 2002?
(b) What is the real income, relative to 2002, of a wage earner whose income amounted to $62 900 in 2013?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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