Ruben Earned a Salary of $60,000 in 2001 and $80,000

question 75

Multiple Choice

Ruben earned a salary of $60,000 in 2001 and $80,000 in 2006.The consumer price index was 177 in 2001 and 221.25 in 2006.Ruben's 2001 salary in 2006 dollars is

• A)$75,000;thus,Ruben's purchasing power increased between 2001 and 2006.
• B)$75,000;thus,Ruben's purchasing power decreased between 2001 and 2006.
• C)$85,000;thus,Ruben's purchasing power increased between 2001 and 2006.
• D)$85,000;thus,Ruben's purchasing power decreased between 2001 and 2006.

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Definitions:

Social Smile

A voluntary expression typically exhibited by infants around 6 to 8 weeks of age in response to human faces or social interaction.

Cross-Sectional

A type of research design that examines data from a population, or a representative subset, at a specific point in time.

Emotional Reactions

The spontaneous and often unpredictable psychological responses derived from one’s feelings towards an external event or thought.

Continuity

Continuity refers to the concept of maintaining a consistent structure, process, or condition over time, emphasizing stability and ongoing connection.