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2. The CPI in 1990 was 131, and the CPI in 2010 was 218. If you earned a salary of $40,000 in 1990, what would

2. The CPI in 1990 was 131, and the CPI in 2010 was 218. If you earned a salary of $40,000 in 1990, what would be a salary with equivalent purchasing power in 2010? 3. The nominal minimum wage at the end of 1995 was $4.25. At the end of 1968 the nominal minimum wage was $1.60. At the end of 1995 the CPI was 156.9. At the end of 1968 the CPI was 35.5. Which minimum wage, 1968 or 1995, had a higher purchasing power? Please show your work

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