Question 51 (1 point) Billy and his dad are sitting at a holiday dinner arguing about...
Question 51 (1 point) Billy and his dad are sitting at a holiday dinner arguing about who is doing better for their family. Billy is earning a yearly salary of 47,000 in the year 2020. Billy's father claims that when he was Billy's age, in 1970, he was bringing in $15,000, and his family had a better house and more nice stuff. Using 1970 as the base year, the CPI for 2020 is 287.5. While they are arguing Grandma starts laughing. "During the war I was making $8,000 a year building planes. You boys need real jobs." The CPI in 1943 was 35.6. What is Billy's Real Wage in 2020? $14,400 $75,842.70 $27.000 $16,347.83 Question 52 point)