Multiple Choice
You earned $30,000 in 2007,and your salary rose to $80,000 in 2016.If the CPI rose from 82 to 202 between 2007 and 2016,which of the following is true?
A) There was deflation between 2007 and 2016.
B) The purchasing power of your salary fell between 2007 and 2016.
C) The purchasing power of your salary remained constant between 2007 and 2016.
D) The purchasing power of your salary increased between 2007 and 2016.
Correct Answer:
Verified
Correct Answer:
Verified
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