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

question 71

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 2006 salary in 2001 dollars is

• A)$20,000;thus,Ruben's purchasing power increased between 2001 and 2006.
• B)$20,000;thus,Ruben's purchasing power decreased between 2001 and 2006.
• C)$64,000;thus,Ruben's purchasing power increased between 2001 and 2006.
• D)$64,000;thus,Ruben's purchasing power decreased between 2001 and 2006.

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Definitions:

Financial Reports

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Sarbanes-Oxley Act

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