If a family spent $250 a week on their typical purchases in 1950, how much would those purchases have cost in 1980? If your salary in 1980 was $30,000 a year, what would be the real value of that salary in terms of 1950 dollars?

5.12 Self-Test If a family spent $250 a week on their typical purchases in 1950, how much would those purchases have cost in 1980? If your salary in 1980 was $30,000 a year, what would be the real value of that salary in terms of 1950 dollars? Use the data in Table 5.8. Percent Change since 1950 1950 1960 1970 1980 1990 2000 2013 CPI 25.0 29.8 39.8 86.3 133.8 174.0 233.0 + 19.2% + 59.2 + 245.2 + 435.2 + 596.0 + 832.0