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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 6
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...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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