Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The consumer price index (CPI) rose from 106.7 to 119.1, while Mary's net salary rose 11.1 %. Calculate the relative real change in her salary
The consumer price index (CPI) rose from 106.7 to 119.1, while Mary's net salary rose 11.1 %. Calculate the relative real change in her salary (purchasing power) as percentage.
Round the figure so, that the answer has 2 decimals. Enter a plain number without %-sign and use decimal point (.) Remember to indicate the direction of the change (+/-).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started