02 May Question: 1) Geronimo earns $12.50 per hour in 2016. Convert this hourly wage to 1967 dollars. The CPI f…
1)
| Geronimo earns $12.50 per hour in 2016. Convert this hourly wage to 1967 dollars. The CPI for 1967 is 18.1 and the CPI for 2016 is 128.4. | |||
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2)
| The 2012 CPI was 177 and the 1982 CPI was 96.5. How much would you need in 2012 in order to buy what you were able to buy with the $1000 in 1982? Round your answer to the nearest dollar. | |||
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