If the 1989 salary in 2009 dollars is $147,951, how do we interpret this?
A) The salary earned in 1989 could have purchased the same amount of goods as $147,951 could buy in 2009.
B) It would take $147,951 in 2009 to buy the same amount of goods that was purchased in 1989 with $85,529.
C) Someone earning $85,529 in 1989 would be as well off if he were earning $147,951 in 2009.
D) All of these interpretations are correct.
Correct Answer:
Verified
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