The table below shows the CPI and the nominal price of a Big Mac in January 2015 and January 2023.      January 2015 January 2023 CPI 235 300 Big Mac $4.79 $5.81 By what percentage did the real price of a Big Mac change between January 2015 and January 2023?     Use positive numbers to indicate an increase and a negative number to indicate a decrease. Do not increase the "%" symbol in the box. Include 2 decimal places in your answer.

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Measuring The Cost Of Living
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The table below shows the CPI and the nominal price of a Big Mac in January 2015 and January 2023. 

 

  January 2015 January 2023
CPI 235 300
Big Mac $4.79 $5.81

By what percentage did the real price of a Big Mac change between January 2015 and January 2023?

 

 

  • Use positive numbers to indicate an increase and a negative number to indicate a decrease.
  • Do not increase the "%" symbol in the box.
  • Include 2 decimal places in your answer.

 

 
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