Question: The CPI is the most pervasively used index number in existence. You can keep current with it at the Bureau of Labor Statistics site https://stats.bls.gov/. Locate the CPI index-All urban consumers. If the majority of new college graduates in 1978 could expect to land a job earning $20,000 per year, what must the starting salary be for the majority of new college graduates in 2007 in order for them to be at the same standard of living as their counterparts in 1978? Is today's typical college graduate better or worse off than her or his 1978 counterpart?