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MatroZZZ [7]
4 years ago
10

Assume in 2016 that your income was $50,000 and in 2017 your nominal income increased to $70,000. If the CPI changed from 100 to

110, then your real (purchasing power) income _______________?.
Business
1 answer:
Andrej [43]4 years ago
8 0

Answer:

$55,000

Explanation:

Data provided in the question:

Income in 2016 = $50,000

Nominal income in 2017 = $70,000

CPI in 2016 = 100

CPI in 2017 = 110

Now,

Purchasing power in 2017 = [ CPI of 2017 ÷ CPI of 2016 ] × Income in 2016

or

Purchasing power =  [ 110 ÷ 100 ] × $50,000

or

Purchasing power = 1.1 × $50,000

or

Purchasing power = $55,000

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Answer:

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3 0
3 years ago
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Answer:

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Response is “ why wages for females are lower than for males in a particular labor market” because there the micro-economist would focus on a particular market: the labor market, and tries to understand the wage gap between female and male workers.

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8 0
3 years ago
Barry, a solvent individual but a recovering alcoholic, embezzled $6,000 from his employer. In the same year that he embezzled t
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Explanation:

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when an account holder uses a debit card to pay for a purchase at the point of sale, a. money is immediately taken out of the ch
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