aq30Jan1 - year. f. If the CPI change and GDP deflator...

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In 2000, the CPI was 100. In 2005, it turns out to be 117. This means: a.Anything that had a price of $100 in 2000 will have a price of $117 in 2005 b.What households bought on average for $100 in 2000 will cost $117 in 2005 c.Annual inflation between 2000 and 2005 is 17% d.On average, the price level increased 17% between 2000 and 2005 e.Inflation between 2000 and 2005 is less than 3% a
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Unformatted text preview: year. f. If the CPI change and GDP deflator change are the same, if money wages go up less than 17% between 2000 and 2005, real wages will have risen. g.If the CPI change and GDP deflator change are the same, if money wages go up more than 17% between 2000 and 2005, real wages will have risen. b, d, and g are all correct....
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This note was uploaded on 05/22/2011 for the course ECO 2013 taught by Professor Denslow during the Spring '05 term at University of Florida.

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