Problems and Exercises ] Given the following year-end data, calculate the inflation rate for years 2, 3, and 4. Calculate the real wage in each year.
YearCPIInflation RateNominal WageReal Wage
1100 $10.00_________
2110___________ $12.00_________
3120___________ $13.00_________
4115___________ $12.75_________
Inflation data?
ask CHUCK NORRIS
CHUCK knows all
Inflation data?
ask Bush....
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