The Yearly Incomes of a College Graduate for the Years

question 49

Essay

The yearly incomes of a college graduate for the years 2007 through 2010 and the Consumer Price Index are shown below.

a.Use the Consumer Price Index to deflate the yearly income series.
b.Compare the individual's income to his/her real income for the years 2009 and 2010.Comment on your findings.

---

Definitions:

Observable Behavior

is any action or conduct of an individual that can be seen or measured, often used in the study of psychology and organizational behavior.

Inner States

Psychological conditions or feelings that exist within an individual, influencing their behavior and perceptions.

James McGregor Burns

A political scientist known for his work on leadership and specifically for introducing the concept of transformational leadership.

Transformational Leaders

Leaders who inspire and motivate followers to achieve extraordinary outcomes by transforming their attitudes, beliefs, and values.