The table shows the salary an individual earns in given years and the CPI value
ID: 1207219 • Letter: T
Question
The table shows the salary an individual earns in given years and the CPI value for that year.
Year Salary CPI
1969 $20,520 46.7
1979 43,265 72.6
1989 85,529 124.0
1999 95,250 166.6
2009 120,844 214.5
According to the table, the individual’s nominal income increased by ___488___ % across the 40-year period and the rate of inflation was __359____ % across the 40-year period. Round to the nearest whole number and do not enter any other characters.
According to the table, the individual’s real income in 1969 was $ _____ and in 2009 it was $ ______ . Real income is measured in base year dollars. Round to the nearest whole number and do not enter any other characters.
Explanation / Answer
Round to the nearest whole number and do not enter any other characters.
According to the table, the individual’s real income in 1969 was $20,529 and in 2009 it was $ 26,309. Real income is measured in base year dollars. Round to the nearest whole number and do not enter any other characters.
(Real income in 2009 = $120,844 / 214.5 x 43.7)
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