Q2. The Consumer price Index(2011=100) in January 2020 is 250,
a.) Calculate the real wage of Shubham if his money wage is Rs 85,000.
Has welfare increased or decreased for Shubham?
b.) If Shubham was getting Rs 35,000 in 2011 by how much his salary
should increase or decrease to maintain the same standard of living in the
year 2020?
(3 marks)
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