Suppose Mack's Wage Was $7

question 172

Multiple Choice

Suppose Mack's wage was $7.00 an hour in 2001 and was $12.00 per hour in 2012.The CPI was 94 in 2001 and 201 in 2012.The 2001 wage in terms of 2012 dollars is

• A)$14.97.
• B)$14.07.
• C)$3.48.
• D)$13.16.
• E)$7.00.

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