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puppose you graduated from college in 2013 and received a starting offer of $70,000. What would your starting salary need to have been in 1976 or you to have the same purchasing power as $70,000? Assume the CPI n 2013 was 233, and the CPI in 1976 was 80. O $37,554 O $20,389 O Cannot be determined from information given. O $ 133,700 O $24,034

puppose you graduated from college in 2013 and received a starting offer of $70,000. What would your starting salary need to have been in 1976 or you to have the same purchasing power as $70,000? Assume the CPI n 2013 was 233, and the CPI in 1976 was 80. O $37,554 O $20,389 O Cannot be determined from information given. O $ 133,700 O $24,034

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose you graduated from college in 2013 and received a starting offer of $70,000. What would your starting salary need to have been in 1976 for you to have the same purchasing power as $70,00O? Assume the CPI in 2013 was 233, and the CPI in 1976 was 80. O $37,554 O $20,389 O Cannot be determined from information given. O $ 133,700 O $24,034
Transcribed Image Text:Suppose you graduated from college in 2013 and received a starting offer of $70,000. What would your starting salary need to have been in 1976 for you to have the same purchasing power as $70,00O? Assume the CPI in 2013 was 233, and the CPI in 1976 was 80. O $37,554 O $20,389 O Cannot be determined from information given. O $ 133,700 O $24,034
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