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Suppose industry abatement costs rise from $850 million in 2011 to $1,000 million in 2012 in nominal terms and that the CPI is 100 in

  • Suppose industry abatement costs rise from $850 million in 2011 to $1,000 million in 2012 in nominal terms and that the CPI is 100 in 2018 and 106 in 2019. a) Evaluate the change in costs over the period in real terms, first in 2018 dollars and then in 2019 dollars.

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