Suppose the Consumer Price Index in 2016 is 127.1 with 2002 as the base year a) What is the purchasing power of the dollar compared to 2002 b) What is the real income relative to 2002 of person whose income was $72500

Suppose the Consumer Price Index in 2016 is 127.1 with 2002 as the base year a) What is the purchasing power of the dollar compared to 2002 b) What is the real income relative to 2002 of person whose income was $72500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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