4. ) James' income was $67,000 in 2010, $72,000 in 2014, and $78,000 in 2017. The Canadian CPI was 118.7 in 2014 and 122.6 in 2017. The CPI base year is 2010. a. Determine James' real income in 2014 and 2017. ( b. Should James be happy about his increases in salary from 2010 to 2017? Explain your results

ENGR.ECONOMIC ANALYSIS
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4.
) James' income was $67,000 in 2010, $72,000 in 2014, and $78,000 in 2017. The
Canadian CPI was 118.7 in 2014 and 122.6 in 2017. The CPI base year is 2010.
a. Determine James' real income in 2014 and 2017. (
b. Should James be happy about his increases in salary from 2010 to 2017? Explain your
results
Transcribed Image Text:4. ) James' income was $67,000 in 2010, $72,000 in 2014, and $78,000 in 2017. The Canadian CPI was 118.7 in 2014 and 122.6 in 2017. The CPI base year is 2010. a. Determine James' real income in 2014 and 2017. ( b. Should James be happy about his increases in salary from 2010 to 2017? Explain your results
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