Question
Joe Bidenbecame a U.S. senator in 1973 when senators were paid $42,500 per year. His last full year in the senate was 2008 when he
Joe Bidenbecame a U.S. senator in 1973 when senators were paid $42,500 per year.
His last full year in the senate was 2008 when he was paid $169,300.
The CPI value for 1973 was 44.4 and the CPI value for 2008 was 215.3.
What was the salary for 1973 equivalent to in 2008 dollars if you adjusted for inflation using the CPI?
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The Lever Of Riches Technological Creativity And Economic Progress
Authors: Joel Mokyr
1st Edition
0195074777, 9780195074772
