Posted by **Jen** on Tuesday, May 29, 2007 at 3:21pm.

Frank's nominal income in 1998 is $45,000. Suppose the CPI in 1998 is 150. What is Frank's real income?

a. $51,750

b. $45,000

c. $38,250

d. $30,000

can you show me the calculations

real income in what year's dollars.

Real income in the base year of the cpi would be 45000/1.5=30000.

Real income in 1998 dollars is simply 45000.

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