Cost of Living
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What would happen to the purchasing power of the U.S. dollar if the base period for the cost of living index were 1980 = 100 and the index reached the following levels in the indicated years?
a) 1985â?"116
b) 1990â?"127
c) 1995â?"134
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Solution Summary
The solution computes purchasing power of the U.S. dollar with given cost of living index.
Solution Preview
To calculate the change in purchasing power we multiply the ratio of base year (1980) to target year (1985/1990/1995) by 100.
a) Change in ...
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