The salary of the president of the United States in 2000 was $400,000. In 1940, the president's salary was $75,000. If the Consumer Price Index was 8.1 in 1940 and 100 in 2000, the 1940 presidential salary measured in terms of the purchasing power of the dollar in 2000 would be:
A) less than $75,000.
B) less than $400,000.
C) approximately $668,850.
D) approximately $926,000.
Correct Answer:
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