The median Canadian household earned $9,397 in 1973 and $70,400 in 2019. During that time, though, the CPI rose from 23.7 to 131.5. Instructions: Enter your answer as a percentage rounded to one decimal place. a. The total growth rate in nominal median household income from 1973 to 2019 was

The median Canadian household earned $9,397 in 1973 and $70,400 in 2019. During that time, though, the CPI rose from 23.7 to 131.5. Instructions: Enter your answer as a percentage rounded to one decimal place. a. The total growth rate in nominal median household income from 1973 to 2019 was

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section6.1: Measuring The Price Level

Problem 3ST: In year 1, your annual income is 45,000 and the CPI is 143.6; in year 2, your annual income is...

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The median Canadian household earned $9,397 in 1973 and $70,400 in 2019. During that time, though, the CPI rose from 23.7
to 131.5.
Instructions: Enter your answer as a percentage rounded to one decimal place.
a. The total growth rate in nominal median household income from 1973 to 2019 was
%.

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