Assume Your Salary Is $2000 Per Month and the Expectation

question 8

Multiple Choice

Assume your salary is $2000 per month and the expectation is that over the next twelve months inflation will be 6 percent. In order to prevent a drop in your real salary over the year, your employer would have to agree to change your nominal salary by

• A)0.
• B)+ 12 percent.
• C)+ 6 percent.
• D)- 6 percent.
• E)- 12 percent.

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Definitions:

Sales Receipt

A document that provides proof of a sales transaction, detailing the goods or services purchased and the amount paid.

Rental Contract

A legal agreement between a landlord and tenant detailing the terms and conditions for renting property or equipment.

Invoice

A document issued by a seller to a buyer that lists items or services provided, their prices, and the total amount payable, often serving as a request for payment.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.