5. Suppose your father earned a salary of 15000$ in 2010. If the CPI is 31 in 2010 and 220 in 2022 than the value of your father's salary in 2022 is: 2113.63 106451.6 3300000 465000

The federal minimum wage in 1991 was $4.25.  The value of the CPI in 1991 was 136.2  The value of the CPI in 2018 was 251.107.  The federal minimum wage in 2018 was $7.25.   Round your answers to two decimal places. The real value of the minimum wage in 1991 measured in base year dollars was $  .  The real value of the minimum wage in 1991 measured in 2018 dollars was $  .  Minimum wage workers were better off in 1991 than they were in 2018.  Enter T for true or F for false.

Month CPI January 281.93 February 284.18 March 287.71 April 288.66 The minimum wage was $1.60 in 1968. The CPI in December of 1968 was 35.6 and we have the data above for CPI values in 2022.  What is the value of the 1968 minimum wage in April 2022 terms? Round your answer to two digits after the decimal without the dollar sign. Make sure you are using the correct base period.

The consumer price index for selected years is shown in the following table. Year CPI Year CPI 2017 245.168 2013 232.957 2016 240.008 2012 229.594 2015 237.017 2011 224.939 2014 236.736 2010 218.056 Suppose Lois's salary in 2010 was $52,000, $57,000 in 2014, and $65,000 in 2016. Using the values of the CPI from the table, find her salaries in constant 2015 dollars. (Round your answers to the nearest cent.) $52,000 2015 dollars $57,000 $65,000 2015 dollars 2015 dollars

The table below pertains to a small agricultural economy where the typical consumer's basket consists of 10 pounds of apples and 20 pounds of oranges. If 2017 is the base year, then the CPI for 2018 was Year 2017 2018 125.0 100.0 95.0 110.0 ☐ G Price of Apples $2.0 per pound $1.5 per pound Search D 11 Price of Oranges $2.00 per pound $3.00 per pound 17

8   2. Average hourly earnings of all employees increased from $ 29.93 per hour to $ 31.40 per hour in the United States in the year 2021. The CPI at the beginning of 2021 was 262.20 and Increased to 280.13 by the end of 2021 in the United States The average wage increased nearly $ 1.50 per hour or an average of $ 3000 increase in annual pay . Explain in detail what this m in terms of the changes in the real wage and purchasing power of the income ,

Calculate how these famous athletes from different time periods rank in salary by converting each to today's $ (our CPI in 2023 is 304). Year CPI income 1980 82.4 Sugar Ray Leonard $18,000,000 (boxing) 1931 15.2 2015 Athlete's nominal 237.0 Babe Ruth $80,000 (baseball) Lionel Messi $73,800,000 (beautiful game) Each athlete's real income (in 2023 $) Rank of earnings in today's $

The cost of a gallon of gasoline was $0.57 in 1975.  If the cost of gasoline grew with inflation what would the cost be in 2021?  How does this compare this to the actual cost of gasoline in 2021?  Explain your answer using a meaningful sentence.  CPI in 1975 was 53.8 CPI in 2021 was 270.97

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The CPI in December of the year 2000 was equal to 174.6. In May of 2023, the most recent month available, the CPI was 304.2. If you made $35,000 in 2000, how much income would you have to make in March of 2023 to maintain the same purchasing power? Please show your work.