You earned $30,000 in 2000,and your salary rose to $80,000 in 2013.If the CPI rose from 82 to 202 between 2000 and 2013,which of the following is true?
A) There was deflation between 2000 and 2013.
B) The purchasing power of your salary fell between 2000 and 2013.
C) The purchasing power of your salary remained constant between 2000 and 2013.
D) The purchasing power of your salary increased between 2000 and 2013.
Correct Answer:
Verified
Q192: If the CPI falls from 142 to
Q193: The producer price index tracks the prices
Q205: Explain how the CPI is constructed.
Q207: If your nominal wage rises more slowly
Q209: Table 9-14 Q209: The CPI in 1990 was 131,and the Q210: Table 9-14 Q211: Suppose your grandfather earned a salary of Q214: Table 9-17 Q217: Table 9-12 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents