Multiple Choice
Jennifer received news that she is getting a 5% raise. However, the Bureau of Labor Statistics just reported that prices are rising by 7%. Based on the given information, which of these statements is TRUE?
A) Jennifer's purchasing power will rise by 2%.
B) Jennifer's purchasing power will decline by 2%.
C) Jennifer's purchasing power will rise by 7%.
D) Inflation has no impact on purchasing power.
Correct Answer:
Verified
Correct Answer:
Verified
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