Price Indes Year Price Year Indes 1970 36.8 1960 1990 130,7 2000 172.3 2010 218.1 1971 40.5 1981 90.9 1991 136.2 2001 177.1 2011 2249 1972 41.8 1982 1992 2012 1973 1983 1993 1403 2002 179.9 1445 2003 184 1482 2004 1869 100 101.9 1994 2013 233 1974 1964 2014 234.8 1985 1995 152.4 2005 1953 2015 237 2016 2016 210.1 107.6 1986 109.6 1996 1569 2006 2007 2008 2153 2018 251 1987 1997 160.5 207.3 2017 245.1 1136 65.2 1988 118.3 1996 163 726 124 1999 166.6 2009 2143 Source Bureau of Laber Statistics, United States Department of Labor 1975 1976 1977 1978 1979 444 49.3 Price Index 82.4 53.8 56.9 60.6 Price Indes Based on the table of CPI, calculate the following: Laura's salary was $100,000 in 2000. In order to maintain the same level of purchasing power in 2010 as she had in 2000, what should be her salary?

Price Indes Year Price Year Indes 1970 36.8 1960 1990 130,7 2000 172.3 2010 218.1 1971 40.5 1981 90.9 1991 136.2 2001 177.1 2011 2249 1972 41.8 1982 1992 2012 1973 1983 1993 1403 2002 179.9 1445 2003 184 1482 2004 1869 100 101.9 1994 2013 233 1974 1964 2014 234.8 1985 1995 152.4 2005 1953 2015 237 2016 2016 210.1 107.6 1986 109.6 1996 1569 2006 2007 2008 2153 2018 251 1987 1997 160.5 207.3 2017 245.1 1136 65.2 1988 118.3 1996 163 726 124 1999 166.6 2009 2143 Source Bureau of Laber Statistics, United States Department of Labor 1975 1976 1977 1978 1979 444 49.3 Price Index 82.4 53.8 56.9 60.6 Price Indes Based on the table of CPI, calculate the following: Laura's salary was $100,000 in 2000. In order to maintain the same level of purchasing power in 2010 as she had in 2000, what should be her salary?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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