Suppose the Consumer Price Index in 2016 is 127.1 with 2002 as the base year a....

Suppose the Consumer Price Index in 2016 is 127.1 with 2002 as the base year

a. What is the purchasing power of the dollar compared to 2002

b. What is the real income relative to 2002 of the person whose income was $72500

Expert Solution

Rahul Sunny answered 2 years ago

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