Question
Venezuela is in crisis. Government mismanagement has driven up inflation to 195.0% per year (true number is even worse!). Nominal salaries are only increasing at
Venezuela is in crisis. Government mismanagement has driven up inflation to 195.0% per year (true number is even worse!). Nominal salaries are only increasing at 30.0% per year. The average Venezuelan worker earned US$$1170 in 2019.
What is the real growth rate of salaries in Venezuela? % (2 decimals)
What will be the purchasing power of the average salary in the year , when measured in 2019 terms?
US (round to nearest dollar)
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
8th Edition
0324258917, 9780324258912
