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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 25
The median American household earned $9,387 in 1973 and $49,445 in 2010. During that time, though, the CPI rose from 44.4 to 218.1.
a. Calculate the total growth rate in nominal median household income from 1973 to 2010.
b. Calculate the total growth rate in real median household income from 1973 to 2010.
a. Calculate the total growth rate in nominal median household income from 1973 to 2010.
b. Calculate the total growth rate in real median household income from 1973 to 2010.
Explanation
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Given information:
• Median of American...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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