Suppose a person's nominal income is $74,280 in the current year, and the CPI for the current year is 120. The person's current real income, in base year dollars, is: $61,900. O $64,000. O $78,412. O $89,136.
Suppose a person's nominal income is $74,280 in the current year, and the CPI for the current year is 120. The person's current real income, in base year dollars, is: $61,900. O $64,000. O $78,412. O $89,136.
Chapter13: Inflation
Section: Chapter Questions
Problem 4SQP
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![Suppose a person's nominal income is $74,280 in the current year, and the CPI for the current year is
120. The person's current real income, in base year dollars, is:
$61,900.
$64,000.
$78,412.
$89,136.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc4af3eaa-33d2-4c8c-a141-4c37d2165d5c%2F50cbebe8-6ee6-462a-8402-c2f38b7d7004%2F1mbvxkq_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose a person's nominal income is $74,280 in the current year, and the CPI for the current year is
120. The person's current real income, in base year dollars, is:
$61,900.
$64,000.
$78,412.
$89,136.
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