Gulten Started Her Career with an Annual Salary of $82,000

question 112

Multiple Choice

Gulten started her career with an annual salary of $82,000 in 2006. Five years later, in 2011, her salary had increased to $85,000 a year. If the values of the CPI (with a base of 1982−1984) for 2006 and 2011 are 201.6 and 224.9, respectively, compute the increase in Gulten's real income.

• A) −7.08%
• B) 3.66%
• C) 15.68%
• D) 92.92%

---

Definitions:

Markup

The amount added to the cost of a product by retailers to determine its selling price, representing the profit margin.

Brand-Name Markets

Markets dominated by products or services that are widely recognized and trusted by consumers due to their brand.

Restaurant Market Efficiency

Refers to the degree to which restaurant markets allocate resources optimally, balancing supply and demand effectively to meet consumer preferences.

Advertising

A form of marketing communication used to promote or sell a product, service, or idea through various media channels.