Sean Malloy Made $360,000 in 2002,the Base Year

question 2

Essay

Sean Malloy made $360,000 in 2002,the base year.By 2006 he was earning $480,000.If the CPI rose 120 by 2006,how much were his real wages that year,and by what percentage had they changed?

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Definitions:

Cones

Photoreceptor cells in the retina of the eye responsible for color vision and visual clarity in well-lit conditions.

Ocular Dominance Columns

Ocular dominance columns are stripes of neurons in the visual cortex of the brain that respond preferentially to input from one eye or the other, playing a role in the development of depth perception.

Cones

Cone cells are a type of photoreceptor in the retina that are responsible for color vision and are most effective in relatively bright light.

Visible Wavelengths

The portion of the electromagnetic spectrum that is visible to the human eye, ranging approximately from 380 to 740 nanometers.