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Which Professor Is Better Off? Suppose the starting salary for a new assistant economics professor was $20,000 in 1976 and $85,000 in 2014. The value of the CPI for 2014 was 236.7, compared to 56.9 in 1976. A newly-hired professor earned more in real terms in ( 1976 or 2014), with a real salary of $___ enter your response here. (Enter your response rounded to the nearest integer.)

Which Professor Is Better Off? Suppose the starting salary for a new assistant economics professor was $20,000 in 1976 and $85,000 in 2014. The value of the CPI for 2014 was 236.7, compared to 56.9 in 1976. A newly-hired professor earned more in real terms in ( 1976 or 2014), with a real salary of $___ enter your response here. (Enter your response rounded to the nearest integer.)

Macroeconomics: Private and Public Choice (MindTap Course List)
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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Which Professor Is Better Off? Suppose the starting salary for a new assistant economics professor was $20,000 in 1976 and $85,000 in 2014. The value of the CPI for 2014 was 236.7, compared to 56.9 in 1976. A newly-hired professor earned more in real terms in ( 1976 or 2014), with a real salary of $___ enter your response here. (Enter your response rounded to the nearest integer.)
Transcribed Image Text:Which Professor Is Better Off? Suppose the starting salary for a new assistant economics professor was $20,000 in 1976 and $85,000 in 2014. The value of the CPI for 2014 was 236.7, compared to 56.9 in 1976. A newly-hired professor earned more in real terms in ( 1976 or 2014), with a real salary of $___ enter your response here. (Enter your response rounded to the nearest integer.)
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