The CPI equals 1.00 in year one and 1.40 in year two. If the nominal wage is $3000 in year one and a contract calls for the wage to be indexed to the CPI, what will be the nominal wage in year two?
The CPI equals 1.00 in year one and 1.40 in year two. If the nominal wage is $3000 in year one and a contract calls for the wage to be indexed to the CPI, what will be the nominal wage in year two?
Chapter13: Inflation
Section: Chapter Questions
Problem 2SQP
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The CPI equals 1.00 in year one and 1.40 in year two. If the nominal wage is $3000 in year one and a contract calls for the wage to be indexed to the CPI, what will be the nominal wage in year two?
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