econ

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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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