Determine the average nominal income

Reference no: EM13174723

A report indicated that the average annual real income of agricultural workers declined by 2% between 1990 and 2000. If the CPI equaled 1.30 in 1990, 1.69 in 2000, and the nominal income of agricultural workers was $35,000 in 2000, what was the average nominal income of agricultural workers in 1990?

Reference no: EM13174723

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