Suppose that a typical doctor earned $41,000 in 1978. In addition, you know that in 1990 a typical doctor earns $76,000. Finally

Question

2 years ago

6

, you also know that the CPI in 1978 is 210 and in 1990 is 230.

1 answer:

Y_Kistochka [10] · Answer 1 · 2023-04-08T12:32:08+03:00

Based on the CPI in 1978 and the CPI in 1990, the 1978 doctor's salary in 1990 dollars is $44,904.76.

<h3 /><h3>What is the doctor's salary in 1990?</h3>

This can be found as:

= CPI in 1990 / CPI in 1978 x Salary in 1978

Solving gives:

= 230 / 210 x 41,000

= $44,904.76

The rest of the question is:

Given this information, a doctor's 1978 salary in 1990 dollars is $__________.

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