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An engineer in 1950 was earning $6,800 a year. In 2020 , she earned $88,000 a year. However, on average, prices in 2020 were higher

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An engineer in 1950 was earning $6,800 a year. In 2020 , she earned $88,000 a year. However, on average, prices in 2020 were higher than in 1950. What was her real income in 2020 in terms of constant 1950 dollars? Use the data in Table 5.8 . Note: Round your answer to 2 decimal places. Real income in 2020 TABLE 5.8 The consumer price index (CPI) shows how inflation has increased the cost of a typical family's purchases

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