Suppose that a typical doctor earned $41,000 in 1978. In addition, you know that in 1990 a typical doctor earns $76,000. Finally, you also know that the CPI in 1978 is 210 and in 1990 is 230. Given this information, a doctor's 1978 salary in 1990 dollars is $

Suppose that a typical doctor earned $41,000 in 1978. In addition, you know that in 1990 a typical doctor earns $76,000. Finally, you also know that the CPI in 1978 is 210 and in 1990 is 230. Given this information, a doctor's 1978 salary in 1990 dollars is $

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 4SQP

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Question

. Suppose that a typical doctor earned $41,000 in 1978. In addition, you know that in 1990 a
typical doctor earns $76,000. Finally, you also know that the CPI in 1978 is 210 and in 1990 is
230.
Given this information, a doctor's 1978 salary in 1990 dollars is $

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