Assume that Ms. Sawyer's salary is $70,000, up from $60,000 last year, while the CPI is 120 this year, up from 100 last year. This means that Ms. Sawyer's real income has ____________ since last year.

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12-07-2022
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Assume that Ms. Sawyer's salary is $70,000, up from $60,000 last year, while the CPI is 120 this year, up from 100 last year. This means that Ms. Sawyer's real income has ____________ since last year.

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anshumanaryan799 anshumanaryan799 · Answer 1 · 2022-07-21T16:39:58+02:00

Assume that Ms. Sawyer's salary is $70,000, up from $60,000 last year, while the CPI is 120 this year, up from 100 last year. This means that Ms. Sawyer's real income has decreased since last year.

CPI is a statistical estimate generated from the price of a sample of representative items that are priced on a regular basis. Sub-indexes and sub-sub-indexes are calculated for different categories and subcategories of goods and services and are combined to create an overall index with weights that reflect the share of total consumer spending covered by the index.

This is one of several price indexes calculated by most National Statistics Bureaus. The annual rate of change in the CPI is used as an indicator of inflation. CPI can be used to index the actual value of wages, salaries and pensions (that is, to adjust for the effects of inflation).

Regulate the price. It then shrinks the monetary size to show the actual change in value. In most countries, the CPI, along with the census, is one of the most widely followed national economic statistics.

Learn more about CPI here: https://brainly.com/question/1889164

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