The values of consumer price index (CPI) for 2005 and 2018 are 78.8 and 272.6 respectively while the average annual income of poultry farmer is given as N216,000 and N360,000 accordingly. Comment on the welfare of the poultry farmer using the purchasing power of the income received between, the two years under consideration.
The values of consumer price index (CPI) for 2005 and 2018 are 78.8 and 272.6 respectively while the average annual income of poultry farmer is given as N216,000 and N360,000 accordingly. Comment on the welfare of the poultry farmer using the purchasing power of the income received between, the two years under consideration.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Measuring The Cost Of Living
Section: Chapter Questions
Problem 5CQQ
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