Question: The CPI in July 1977 was 60 9 in July 1994

The CPI in July, 1977, was 60.9; in July, 1994, it was 148.4.
a. The salary of the governor of California in July, 1977, was $ 49,100; in July 1994, it was $ 120,000. Compute what the July, 1977, salary would be in July, 1994, adjusted for inflation, and compare it with the actual salary in July, 1994.
b. The salary of the president of the United States in July, 1977, was $ 200,000. In July, 1994, it was still $ 200,000. Compute what the July, 1977, salary would be in July, 1994, adjusted for inflation, and compare it with the actual salary.

View Solution:


Sale on SolutionInn
Sales0
Views100
Comments
  • CreatedOctober 22, 2015
  • Files Included
Post your question
5000