Assume that Ms. Sawyer's salary is $123,000, up from $120,000 last year, while the CPI is 205.6 this year, up from 187.5 last year. This means that Ms. Sawyer's real income has since last year. increased decreased stayed the same There is not enough information provided to answer this question.
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- Trish earned a salary of $60,000 in 2002 and $80,000 in 2006. The consumer price index was 177 in 2002 and 221.25 in 2006. Trish's 2002 salary in 2006 dollars is $75,000; thus, Trish's purchasing power increased between 2002 and 2006. O $75,000; thus, Trish's purchasing power decreased between 2002 and 2006. $85,000; thus, Trish's purchasing power increased between 2002 and 2006. $85,000; thus, Trish's purchasing power decreased between 2002 and 2006.Table 24-3The table below pertains to Iowan, an economy in which the typical consumer’s basket consists of 4 pounds of pork and 3 bushels of corn. Year Price ofPork Price ofCorn 2012 $20 per pound $12 per bushel 2013 $25 per pound $18 per bushel Refer to Table 24-3. If 2012 is the base year, then the CPI for 2013 was Group of answer choices 100.0. 116.0. 132.8. 154.0.Using the table below, find the real value of a payment of $2,500 to be recelved each year given the following CPI values. Next find the amount that this $2,500 should be adjusted to in order to keep its real value at $2,500. Instructions: Round your answers to two decimal places. Cost-of-living adjusted payment BUL 2,500 I Real value of Year CPI $2,500 2015 T 100 2016 103 | 2017 105 2018 110
- pads/Assignment_Chapter%204%20(4).pdf F3 E D Q Search DII F4 $ R F 1 2 / 3 | - The average nominal incomes earned in Eturia and the CPI are shown in the table below. 2018 $26,700 105 Nominal income CPI (2002= 100) FS to the nearest dollar. Calculate real income for each year. Enter your responses in the table above. Round your answers rounded to one decimal place, in the table above. b. By what percentage did real incomes rise in the years 2019 and 2020? Enter your responses V 4. decimal place. The information in the table below is for the economy of Mensk. Round your responses below to one 100% + | Working-age population Number of people in full-time employment Number of people in part-time employment Number of people unemployed Number of discouraged workers % 5 € a.What is the unemployment rate? b. What is the participation rate? 5. The table below shows national data for the economy of Westfall. Round your intermediate 9 @ T F6 6 B DELL Y H 8 & 7 F8 U N * 00 8 J F9 prt sc 2019…Table 24-5The table below pertains to Wrexington, an economy in which the typical consumer’s basket consists of 20 pounds of meat and 10 toys. Year Price ofMeat Price of aToy 2004 $3 per pound $2 2005 $1 per pound $7 2006 $4 per pound $5 Refer to Table 24-5. If the base year is 2004, then the CPI in 2004 was Group of answer choices 0. 1. 80. 100.Real Income Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $44,200 from his initial salary of $40,000. What was Joshua's raise stated as a percentage? Inflation averaged 2.4 percent for the year. Round your answer to one decimal place. What was his real income after the raise? Round your answer to nearest cent. What was his real raise stated as a percentage? Round your answer to one decimal place. %
- 8 2. Average hourly earnings of all employees increased from $ 29.93 per hour to $ 31.40 per hour in the United States in the year 2021. The CPI at the beginning of 2021 was 262.20 and Increased to 280.13 by the end of 2021 in the United States The average wage increased nearly $ 1.50 per hour or an average of $ 3000 increase in annual pay . Explain in detail what this m in terms of the changes in the real wage and purchasing power of the income ,Using the table below, find the real value of a payment of $1,000 to be received each year given the following CPI values. Next find the amount that this $1,000 should be adjusted to in order to keep its real value at $1,000. Instructions: Round your answers to two decimal places. Year CPI 2015 100 2016 103 2017 105 2018 110 Real value of $1,000 1,000 Cost-of-living adjusted payment 1,000The table below pertains to Pieway, an economy in which the typical consumer’s basket consists of 10 bushels of peaches and 15 bushels of pecans. Year Price ofPeaches Price ofPecans 2005 $11 per bushel $6 per bushel 2006 $9 per bushel $10 per bushel Refer to Table 24-1. If 2006 is the base year, then the CPI for 2006 was
- wing faci 13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary was $59,140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals)Congratulations! Your boss has given you a raise. However, you want to know whether your purchasing power has increased, since inflation is also rising. The table below gives you data for wages and the Consumer Price Index (CPI) for the last two years. Wage ($/day) CPI Year 1 $ 2000 CPI 120 Year 2 $2200 CPI 129.6 The nominal percentage increase in your wage is enter your response here%. (Round your answer to one decimal place.) Part 2 The real percentage increase in your wage is enter your response here%. (Round your answer to one decimal place.)Consumer’s basket contains 20 pizzas and 10 compact discs. For each year, compute the cost ofthe basket, the CPI (use 2002 as the base year), the inflation rate from the preceding year. Hereare the prices:Year pizza CDs2002 $10 $152003 $11 $152004 $12 $162005 $13 $15