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Suppose that a person's nominal income increases from $100,000 to $110,000 and the CPI rises from 100 to 115. How would the person's real income
Suppose that a person's nominal income increases from $100,000 to $110,000 and the CPI rises from 100 to 115. How would the person's real income change? Show your calculations.
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
