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15. (Module 15) The table below shows the consumer price index for the Theo Year Consumer Price Index 98 2 100 3 110 115 a.

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15. (Module 15) The table below shows the consumer price index for the Theo Year Consumer Price Index 98 2 100 3 110 115 a. What year is being used as the base year? b. What is the inflation rate between year 2 and year 3? c. Suppose your nominal wage in year 2 was $10 per hour. What nominal w year 4 to keep your real wage from falling? d. Were there any years in which deflation occurred? Explain. (4 points)

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