You earned $30,000 in 2007,and your salary rose to $80,000 in 2016.If the CPI rose from 82 to 202 between 2007 and 2016,which of the following is true?
A) There was deflation between 2007 and 2016.
B) The purchasing power of your salary fell between 2007 and 2016.
C) The purchasing power of your salary remained constant between 2007 and 2016.
D) The purchasing power of your salary increased between 2007 and 2016.
Correct Answer:
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Q193: The producer price index tracks the prices
Q203: Table 20-13 Q204: Table 20-15 Q205: Explain how the CPI is constructed. Q207: Suppose your grandfather earned a salary of Q207: If your nominal wage rises more slowly Q212: Table 20-15 Q213: Table 20-17 Q220: If your nominal wage rises faster than Q220: Table 20-14 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
