An engineer in 1950 was earning $6,000 a yaer. In 2011, she earns $60,000 a year. However, on average, goods today cost 8.2 times whatthey did in 1950. a.) What is her real income in 2011 in terms of...

An engineer in 1950 was earning $6,000 a yaer. In 2011, she earns $60,000 a year. However, on average, goods today cost 8.2 times whatthey did in 1950.

a.) What is her real income in 2011 in terms of constant 1950 dollars?

b.) Calculate her salary's annual inflation rate and the cost of goods annual inflation rate.