Edit View History Bookmarks Develop Window Help 11/16/17 4% 01:04:12 This is a M

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Edit View History Bookmarks Develop Window Help 11/16/17 4% 01:04:12 This is a Mixed question/It is worth 1 point/You have 1 of 1 attempts remaining /There is no attempt penalty Question (1 point) 1st attempt Assume you receive a 3.5% raise in your 2014 salary for 2015, In addition, suppose the CPI was 225 in 2014 and 240 in 2015. The rate of inflation between 2014 and 2015 was therefore %(Note: Calculate this to two decimal places.) From 2014 to 2015 your real wages stayed the increased 04:30 > 2 OF 30 QUESTIONS COMPLETED

Explanation / Answer

rate of inflation

=(240/225)-1

=6.67%

real wages decreased

because inflation is higher than the salary rise,

the above is the answer

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