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QUESTION
An engineer in 1950 was earning $6,900 a year. In 2015 she earned $89,000 a year. However, on average, prices in 2015 were higher than in 1950.
An engineer in 1950 was earning $6,900 a year. In 2015 she earned $89,000 a year. However, on average, prices in 2015 were higher than in 1950. What was her real income in 2015 in terms of constant 1950 dollars?
