Penny Earned $26 000 in 2007

question 142

Essay

Penny earned $26 000 in 2007. If the Consumer Price Index in 2007 was 111.5 and in 2009 was 114.4, what did Penny have to earn in 2009 just to keep up with inflation?

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Definitions:

Scientific Methods

A systematic and logical approach to discovering how things in the universe work, involving observations, hypotheses, experiments, and conclusions based on empirical evidence.

Contingency Thinking

The ability to recognize that different situations or problems may require different approaches or solutions.

Multidisciplinary Field

An area of study that integrates knowledge and methodologies from various disciplines to explore complex problems or topics.

Organizational Behavior

The study of how individuals and groups act within the organizations where they work, focusing on improving productivity, work quality, and work environment.