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Suppose that a person's nominal income increases from $50,000 to $60,000 and the CPI rises from 100 to 125. How would the person's real income
Suppose that a person's nominal income increases from $50,000 to $60,000 and the CPI rises from 100 to 125. How would the person's real income change? Show your calculations.
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Economics
Authors: Roger A. Arnold
12th edition
978-1305758674, 1305758676, 978-1285738321
