When Sue graduated from college, she got a job with a starting salary of $30,000. When Sue's sister Jan graduated five years later, her starting salary was $36.000. Jan likes to tease Sue about earning more than Sue did right out of college. Sue dlaims that she actually had the higher salary in real dollars. The Consumer Price Index rose 28 percent during the five years separating the sisters' graduations. Therefore, we can conclude that Jan eamed the higher real salary Sue eamed the higher real salary there ion't enough information to determine who earned the higher real salary both Sue and Jan earned the same real salary

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 10CQ
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When Sue graduated from college, she got a job with a starting salary of $30.000. When Sue's sister Jan graduated five years later, her starting salary was
$36.000. Jan likes to tease Sue about earning more than Sue did right out of college. Sue dlaims that she actually had the higher salary in real dollars. The
Consumer Price Index rose 28 percent during the five years separating the sisters' graduations.
Therefore, we can conclude that
Jan earmed the highor real salary
ts
Sue eamed the higher real salary
there isn't enough information to determine who earned the higher real salary
both Sue and Jan earned the same real salary
am
Next
Transcribed Image Text:When Sue graduated from college, she got a job with a starting salary of $30.000. When Sue's sister Jan graduated five years later, her starting salary was $36.000. Jan likes to tease Sue about earning more than Sue did right out of college. Sue dlaims that she actually had the higher salary in real dollars. The Consumer Price Index rose 28 percent during the five years separating the sisters' graduations. Therefore, we can conclude that Jan earmed the highor real salary ts Sue eamed the higher real salary there isn't enough information to determine who earned the higher real salary both Sue and Jan earned the same real salary am Next
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