Evaluate change in costs over period in real terms

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Reference no: EM1371318

Q. 1. Suppose industry abatement costs rise from $850 million in 2004 to $1,000 million in 2005 in nominal terms and that CPI is 100 in 2004 and 106 in 2005.

a. Evaluate change in costs over period in real terms, first in 2004 dollars and m in 2005 dollars.

b. Are your answers same? Explain why or why not.

Reference no: EM1371318

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