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How much must the joneses earn

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Question: Keeping up with the Joneses. The Jones family had a household income of $30,000 in 1980, when the CPI (1982-84 = 100) was 82.4. The CPI for 2007 was 207.3. How much must the Joneses earn in 2007 to have the same buying power they had in 1980?

Reference no: EM131638730

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