John's annual income in 2002 was $52 000. Now in 2011 John earns $63 000 per year. The CPI was 96 in 2002 and is 115 now. In real terms, is John better off now than he was in 2002?

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The Answer of John's annual income in 2002 was $52 000. Now in 2011 John earns $63 000 per year. The CPI was 96 in 2002 and is 115 now. In real terms, is John better off now than he was in 2002?

John's Annual Income in 2002 Was $52 000