The yearly incomes of a college graduate for the years 2007 through 2010 and the Consumer Price Index are shown below.

a.Use the Consumer Price Index to deflate the yearly income series.
b.Compare the individual's income to his/her real income for the years 2009 and 2010.Comment on your findings.

Question

The yearly incomes of a college graduate for the years 2007 through 2010 and the Consumer Price Index are shown below.
  
a.Use the Consumer Price Index to deflate the yearly income series.
b.Compare the individual's income to his/her real income for the years 2009 and 2010.Comment on your findings.

Quizplus · Accepted Answer

The Answer of The yearly incomes of a college graduate for the years 2007 through 2010 and the Consumer Price Index are shown below.
  
a.Use the Consumer Price Index to deflate the yearly income series.
b.Compare the individual's income to his/her real income for the years 2009 and 2010.Comment on your findings.

The Yearly Incomes of a College Graduate for the Years