Multiple Choice
Nitin earns $15 per hour today. Five years ago he earned $11.75 per hour. During the five-year period the CPI rose from 136.5 to 147.6. Has Nitin's buying power increased or decreased and by how much in current year's dollars?
A) increased by $2.37
B) decreased by $2.37
C) increased by $2.29
D) decreased by $2.29
E) increased by $1.95
Correct Answer:
Verified
Correct Answer:
Verified
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