Answer to Question #156348 in Macroeconomics for Christopher Rodrigues

Question #156348

Suppose a person was earning 1500 per month in 2005, what should be his salary in 2010, if the cost of living index number in 2010 with base year 2005 is 170.30?

Expert's answer

=salary for the base year*cost of living index

=1500*170.30

=2554.50

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