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Problem 4: You want to adjust for inflation using the values from the Consumer Price Index (CPI) to translate 2015 wages to their relative
Problem 4: You want to adjust for inflation using the values from the Consumer Price Index (CPI) to translate 2015 wages to their relative purchasing power value in 2019. Make a new column of data called "Real Wages 2015 (2019 Index)" that equals each individual's value for "Nominal Wages 2015" multiplied by the value in "CPI Scalar" value in the sheet "Real Wage Adjustor." Note: you will need to multiply the exact cell value. Use relative references cell addresses by clicking to the other sheet while you enter the address. Do not just type a rounded numer into the formula bar.
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Macroeconomics
Authors: Olivier J. Blanchard
7th Global Edition
1292160500, 978-1292160504
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