Which job gives higher purchasing power of bundle of goods

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For each city across the U.S. economists construct a price index for a similar basket of goods. In Los Angeles the index is 127.3 and in Dallas the index is 94.8. If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, which job gives you the higher purchasing power of the bundle of goods in the price index? Use the Los Angeles value as the base. Show all working.

Reference no: EM1363128

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