In 2002 Your Annual Salary Was $50 000 and in 2007

question 6

Multiple Choice

In 2002 your annual salary was $50 000 and in 2007 your annual salary is $75 000. The CPI in 2002 was 136 and the CPI in 2007 was 156.1. Which of the following is the percentage change in your real income from 2002 to 2007?

• A)50% increase in real income from 2002 to 2007.
• B)33.33% increase in real income from 2002 to 2007.
• C)30.69% increase in real income from 2002 to 2007.
• D)None of these choices are correct.

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Definitions:

Goodwill Impairment

A decrease in the value of the goodwill asset when the fair value of a company's goodwill becomes less than its recorded cost on the balance sheet.

Public Order

Laws, regulations, or practices aimed at preserving peace and preventing behaviors that disrupt society's tranquility and safety.

Economic

Relating to the economy, or the comprehensive system involving the production, distribution, and consumption of goods and services.

Selective Understanding

The phenomenon of interpreting information in a way that aligns with pre-existing beliefs or opinions, ignoring conflicting data.