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Your wage in Houston, TX is $35,000 per year and the CPI in Houston is 120. Suppose you are offered a similar job in New

Your wage in Houston, TX is $35,000 per year and the CPI in Houston is 120. Suppose you are offered a similar job in New York City that pays $70,000 per year, but the CPI in New York City is 180. This means your real wage is higher in New York City than it is in Houston

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