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Congratulations! Your boss has given you a raise. Next question However, you want to know whether your purchasing power has actually increased, since inflation is
Congratulations! Your boss has given you a raise. Next question However, you want to know whether your purchasing power has actually increased, since inflation is rising as well. The table below gives you data for wages and the Consumer Price Index (CPI) for the last two years. Wage ($/day) CPI Year 1 $2,000 110 Year 2 $2,300 123.2 The nominal percentage increase in your wage is . (Round your answer to one decimal place.) The real percentage increase in your wage is | %. (Round your answer to one decimal place.)
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