Suppose the median household earned $9,096 in 1976 and $52,382 in 2016. During that time, also suppose the CPI rose from 53.6 to 217.11. Instructions: Round your answers to one decimal place. a. The total growth rate in nominal median household income from 1976 to 2016 was: b. The total growth rate in real median household income from 1976 to 2016 was: %. %.
Suppose the median household earned $9,096 in 1976 and $52,382 in 2016. During that time, also suppose the CPI rose from 53.6 to 217.11. Instructions: Round your answers to one decimal place. a. The total growth rate in nominal median household income from 1976 to 2016 was: b. The total growth rate in real median household income from 1976 to 2016 was: %. %.
Chapter5: National Income Accounting
Section: Chapter Questions
Problem 6E
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