Dave brags to his dad that his $45,000 starting salary as a computer programmer is much higher than his dad's $28,000 starting salary some years ago.If the consumer price index the year Dave begins work is 180.5 and the year his dad started work it was 110.8,Dave is:
A) correct.Adjusting for price changes,his salary is more than his dad's salary.
B) correct.Adjusting for quantity changes,his salary is more than his dad's salary.
C) mistaken.Adjusting for price changes,his salary is less than his dad's salary.
D) mistaken.Adjusting for quantity changes,his salary is less than his dad's salary.
Correct Answer:
Verified
Q11: Most economists believe that the consumer price
Q27: Which of the following is NOT true?
A)
Q36: From 1999 to 2002, the Japanese inflation
Q43: Suppose the market basket of goods costs
Q44: Suppose the market basket of goods costs
Q45: If the nominal GDP is $13 trillion
Q46: If your salary was $50,000 last year
Q55: The price of feed corn would be
Q146: If the cost of a typical market
Q271: The GDP deflator for the base year
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