Question

ANSWER THE FOLLOWING [EACH CARRIES TWO MARKS]
1. If the cost of living index number of current year has increased to 180 compared to base
year and average income of worker has increased from Rs. 5,000 to Rs. 9,000 then find
out increase or decrease in standard of living (Rs.)​

Answer 1

Step-by-step explanation:

cost of l.i.n average income

100 5000

180 9000

real wage = money wage * 100 / c.l.i

= 5000*100/100 previous year

=5000

9000*100/180 current year

=5000

so 5000-5000 = 0

There is no increase or decrease in standard of living....

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