Suppose your employer agrees to increase your wage for next year at the same rate as the increase in the consumer price index for this year over last year.If the consumer price index for last year was 179.9 and the consumer price index for this year is 184.0 (1982-84 = 100),then your wage will go up by ________ percent.
A) 2.3
B) 4.1
C) 9.7
D) 84
E) 100

Question

Quizplus · Accepted Answer

The increase in the consumer price index (CPI) is calculated as ((184.0 - 179.9) / 179.9) * 100 = (4.1 / 179.9) * 100 ≈ 2.3%.

Suppose Your Employer Agrees to Increase Your Wage for Next