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Suppose Your Grandfather Earned a Salary of $12,000 in 1964

Question 231

Multiple Choice

Suppose your grandfather earned a salary of $12,000 in 1964.If the CPI is 31 in 1964 and 219 in 2017, then the value of your grandfather's salary in 2017 dollars is approximately


A) $84,774.
B) $63,830.
C) $37,200.
D) $26,280.
E) $19,568.

Correct Answer:

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