You decide today that given the current price level (i.e. cost of living) you would be willing to accept any job that pays at least $50, 000. You will not accept any o?er below this. Currently, the CPI is 238 (recall, the base year for the CPI is 1982 − 1984). Fast forward to 2018. The CP I in 2018 is 317. After graduating, you receive your ?rst job o?er. The o?er is for $60, 000. Do you accept it? Explain and justify your answer.