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Nominal and Real Income Exercise 3 a Using the information below and assuming that you want to maintain your purchasing power from 2011 what nominal wage should you demand in each of the given year

Nominal and Real Income Exercise 3 a. Using the information below, and assuming that you want to maintain your purchasing power from 2011, what nominal wage should you demand in each of the given years? Instructions: Round your answer to the nearest dollar. CPI Values and Nominal Wages Year CPI Nominal Wage (dollars) 2011 224.9 $80,080 2012 229.6 2013 233.0 2014 236.7 84280.87 b. Assume that your annual wage in 2014 was $85,000. This represents .

Apr 05 2020 View more View Less

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