2007-01-30 06:49:28 · 3 answers · asked by AllSmylzes 1 in Social Science ➔ Economics
yeah its a raise only in a nominal sense. But since this adjustment is based on CPI, what it means is that the raise is going to be by the amount increased in the price level. namely, the raise is going to offset some of the negative effects of inflation. So, its not an actual raise per se.
2007-01-30 09:21:36 · answer #1 · answered by Cici Y 2 · 0⤊ 0⤋
The CPI is the Consumer Price Index and is based on a basket of goods that is usually used. Any good economics textbook will let you know what it means.
2007-01-30 14:56:05 · answer #2 · answered by Anthony F 6 · 0⤊ 0⤋
Wow tough crowd. I think most people would call it a raise, even though it doesn't necessarily make you better off. If someone were to say they hadn't had a raise in 20 years, I think that means their paycheck is exactly the same as it was 20 years ago.
2007-01-30 15:53:04 · answer #3 · answered by KevinStud99 6 · 0⤊ 0⤋