The salary of a consumer increased from ¢90, 000 to ¢110,000, which represents his salary for 2021 and 2022 respectively. If he spends all his salary on baskets of apples which costed ¢100 in 2021 and increased to ¢109 in 2022, find the change in real income of the consumer.

The salary of a consumer increased from ¢90, 000 to ¢110,000, which represents his salary for 2021 and 2022 respectively. If he spends all his salary on baskets of apples which costed ¢100 in 2021 and increased to ¢109 in 2022, find the change in real income of the consumer.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 2QP

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O The salary of a consumer increased from ¢90, 000 to ¢110, 000, which represents his salary for 2021
and 2022 respectively. If he spends all his salary on baskets of apples which costed ¢100 in 2021
and increased to ¢109 in 2022, find the change in real income of the consumer.

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