Essay
In 1975,Richard Petty won the NASCAR race in Richmond,earning $6265.In 2006,Dale Earnhardt,Jr.,won the race,earning $239,166.The CPI index was 52.5 in 1975 and 198.7 in 2006 (base year = 1982-1984).Calculate the real earnings (based on base year 1982-1984)of both Petty and Earnhardt.
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Petty: $6265/(52.5/100)= $11,9...View Answer
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Correct Answer:
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