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What was real income

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Question 1: An engineer in 1950 was earning $5,300 a year. In 2017 she earned $97,000 a year. However, on average, prices in 2017 were higher than in 1950. What was her real income in 2017 in terms of constant 1950 dollars? Use the data in Table below (Round your answer to 2 decimal places.)

                      CPI             Percent Change since 1950

1950               25.0

1960             29.8                     +19.2%

1970              39.8                     +59.2%

1980               86.3                    +245.2

1990              133.8                    +435.2

2000                174.0                   +596.0

2010                 219.2                   +776.8

2017                 248.0                    +892.0

Reference no: EM132478975

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