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You are offered a job paying $44,000 starting May 2021. Your parent started working at a comparable job in May 1994 for $28,000. If the
You are offered a job paying $44,000 starting May 2021. Your parent started working at a comparable job in May 1994 for $28,000. If the CPI price index in May 1994 was 182.20 (note: I made up that value) and the CPI price index is expected to be 262.40 in May 2021 (again, I made up that value), which one of you will be comparably better paid, all else held equal?
(Note: you may earn bonus points by comparing the numbers as of 1994 and as of 2020.)
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