Assume Your Uncle Recorded His Salary History During a 40-Year

Multiple Choice

Assume your uncle recorded his salary history during a 40-year career and found that it had increased 10-fold.If inflation averaged 4% annually during the period,then over his career his purchasing power:

A) remained on par with inflation.
B) increased by nearly 1% annually.
C) increased by nearly 2% annually.
D) decreased.