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Calculate the real income

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The table below shows the actual average nominal income per hour in Country X, and CPI for each year with base period = 1982. i. Calculate the real income and fill in the cells below:

Year. Nominal Income CPI. Real Income ($ per hour)

1960 2.43 29.6
1970 4.25 38.8
1980 9.70. 82.4
1990 16.30 130.7

Reference no: EM132786774

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