Question
5-15 An engineer in 1950 was earning $5,300 a year. Today she earns $53,000 a year. However, on average, goods today cost 8.1 times what
5-15
| An engineer in 1950 was earning $5,300 a year. Today she earns $53,000 a year. However, on average, goods today cost 8.1 times what they did in 1950. What is her real income today in terms of constant 1950 dollars? (Round your answer to 2 decimal places.) |
| Today's real income | $ |
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World Finance Since 1914
Authors: Paul Einzig
1st Edition
0415539471, 978-0415539470
