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As a group answer the following questions: 1) How would the 1.1 percentage point reduction in the CPI inflation rate revise or change the level

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As a group answer the following questions: 1) How would the 1.1 percentage point reduction in the CPI inflation rate revise or change the level of wages in the United States? Were individual's incomes higher or lower than what economists previously had thought under the Bureau of Labor Statistics (BL 8) prior formulation of the CPI

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