Two questions, but I'll rep you for answering either one. First come first served. If I happen to run out, I'll write your name down on a list and hit you in 24 hours - pinky promise (no hetero).
1.) Explain the meaning of the following CPIs relative to a base year. Lastly, explain why the percent change in prices from year 3 to year 4 is NOT 25%.
Year 1: 90
Year 2: 100
Year 3: 125
Year 4: 150
2.) Assume you put $100 into the bank. Use numeric examples to explain 3 different scenarios in which your REAL income falls, stays the same, and increases. (bad wording I know, retard for a teacher)
Thanks again brahs.