General Electric paid its workers $5 a day in 1914. If the consumer price index was 10 in 1914 and 230 in 2021, how much is the GE paycheck worth in 2021 dollars?
General Electric paid its workers $5 a day in 1914. If the consumer price index was 10 in 1914 and 230 in 2021, how much is the GE paycheck worth in 2021 dollars?
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 12CQ
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Q)General Electric paid its workers $5 a day in 1914. If the
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