Multiple Choice
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 while the consumer price index the year his dad started work 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) incorrect; adjusting for price changes, his salary is less than his dad's salary.
D) incorrect; adjusting for quantity changes, his salary is less than his dad's salary.
Correct Answer:
Verified
Correct Answer:
Verified
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