Is an old age pensioner in the UK better off today or in 1965? A pensioner received £22.50 per week from the government in June 1965. In June 2020, a pensioner now receives £72.50 per week. The CPI in 1965 was 58.40. In 2020 the CPI is 208.50.

Is an old age pensioner in the UK better off today or in 1965? A pensioner received £22.50 per week from the government in June 1965. In June 2020, a pensioner now receives £72.50 per week. The CPI in 1965 was 58.40. In 2020 the CPI is 208.50.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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May you please answer the second part of the question

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Is an old age pensioner in the UK better off today or in 1965?
A pensioner received £22.50 per week from the government in June 1965.
In June 2020, a pensioner now receives £72.50 per week.
The CPI in 1965 was 58.40. In 2020 the CPI is 208.50.

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