Are newer graduates paid more after adjusting for inflation

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Question: In January 1980, the CPI stood at 77.8, and by January 2006, it was 198.3. By what percent have consumer prices increased over this period? Assume college graduates entering the job market were being paid on average $1,200 a month in 1980, and in January 2006, the average was $3,000. Are these newer graduates paid more or less after adjusting for inflation?

Reference no: EM131483017

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