Suppose That Mike Earned $15,000 in 2008 and $15,600 in 2009.If

question 187

Multiple Choice

Suppose that Mike earned $15,000 in 2008 and $15,600 in 2009.If the consumer price index was 100 in 2008 and 103 in 2009,by approximately what percent did Mike's real salary increase?

• A)1 percent
• B)3 percent
• C)4 percent
• D)5 percent

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Definitions:

Profitability

The degree to which a business or activity yields profit or financial gain.