Question
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
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?
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Cornerstones of Cost Management
Authors: Don R. Hansen, Maryanne M. Mowen
4th edition
1305970667, 978-1337514842, 1337514845, 978-1305970663
