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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 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 .
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