In 1990 an individual earned $20,111 and the CPI had a value of 180. In 2018...
In 1990 an individual earned $20,111 and the CPI had a value of 180. In 2018 the same individual earned $37,241 and the CPI in 2018 had a value of 224. Calculate the percentage change in the individual's real (inflation adjusted) income. Round your answers to two decimal places.
Homework Answers
Calculate the percentage change in the individual's real (inflation adjusted) income
=((37241/224)/(20111/180))-1
=48.80%
percentage change in the individual's real (inflation adjusted) income per year basis
=(1+48.80%)^(1/28)-1
=1.43%
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In 1990 an individual earned $20,111 and the CPI had a value of
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