Multiple Choice
Suppose Mack's wage was $7.00 an hour in 2001 and $12.00 an hour in 2012. The CPI was 94 in 2001 and 201 in 2012. The 2001 hourly wage in terms of 2012 dollars is
A) $7.00.
B) $3.48.
C) $14.07.
D) $14.97.
E) $13.16.
Correct Answer:
Verified
Correct Answer:
Verified
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