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Suppose Peter's income rises from $46 000 to $55 000, while the CPI rises from 107 to 145. Which one of the following has likely

Suppose Peter's income rises from $46 000 to $55 000, while the CPI rises from 107 to 145. Which one of the following has likely occurred to Peter's standard of living?

a. it has likely fallen

b. it has likely risen

c. it has likely stayed the same

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