How much better off are you in term of real purchasing power

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Reference no: EM131956415

You are pleased to see that you have been given a 5% raise this year. However, you read on the Wall Street Journal Web site that inflation over the past year has been 2%. How much better off are you in terms of real purchasing power? (Answer: You can only buy 2.94% more stuff)

Reference no: EM131956415

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