1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IrinaK [193]
2 years ago
9

In 1931, the U.S. President was paid a salary of $75,000. Government statistics show a consumer price index of 15.2 for 1931 and

207 for 2007. President's 1931 salary was equivalent to a 2007 salary of about Group of answer choices $15,525,000 $1,021,382 $1,140,000 $5,507,240
Business
1 answer:
Gelneren [198K]2 years ago
8 0

Answer: $1,021,382

Explanation:

The Consumer Price index (CPI) is an economic measure that enables us calculate inflation. It checks for a price changes in a group or basket of goods and then averages these price changes to find out how much they may have changed overtime.

A higher CPI means prices have increased.

CPI can then be used to calculate the potential values of goods in different years using another year as a base. This means that prices of goods in one year can be written in terms of prices in another year.

This can be done by Dividing the CPI in the current year by the CPI in the base year (year being expressed in terms of) and then multiplying the result by the price of the good in question.

In this case the good is the salary of $75,000.

The 2007 equivalent of a 1931 salary will therefore be,

= 75,000 * ( 207/15.2)

= $1,021,381.57

= $1,021,382

You might be interested in
Why is it important for a human resource manager to carefully maintain<br> employee records?
aleksklad [387]

Answer:

Certain records require employee privacy to be protected. Not maintaining and following best practices for employee record keeping leaves you vulnerable to defending yourself against lawsuits, labor investigations or audits.

Explanation:

8 0
2 years ago
Read 2 more answers
Joan, is a jewelry designer who had created a unique new jewelry piece called a neacklet. It can be either a necklace or a brace
patriot [66]

Answer and explanation:

In Joan's case, a general partnership will provide her control over her business that will be shared with the older gentleman who owns a jewelry store. Profits would be distributed evenly regardless of the contribution of each partner in the business. However, the older gentleman has offered Joan the chance of purchasing his share later on which would provide her the total control of the business and the patent of her creation.

The other option Joan has available is purchasing a franchise. This will allow Joan to avoid the initial costs of introducing her products to the market and the risks of not having enough consumers since her brand name is new. Though she will lose access to the patent of her creation and periodically Joan will need to pay NewJewelry a fee for using its name.

Therefore, <em>as Joan prefers to have control over her designs, it would be more convenient for her to choose the general partnership.</em>

6 0
3 years ago
Buying the beneficiary position on a life insurance policy of someone who is dying
MaRussiya [10]

Buying the beneficiary position on a life insurance policy of someone who is dying is referred to as <u>Viatical Settlement</u>

Explanation:

  • <u>Viatical settlement</u> refers to the sale of a life insurance policy by the owner to a third party for a amount which is more than its surrender value but less than its net death benefit.
  • Viatical settlement provides the policy owner with a lump some amount of money.
  • The <u>viatical settlement </u>is tax-free as per the Health Insurance Portability and Accountability Act (HIPAA) 1996

6 0
3 years ago
In the case of an unanticipated inflation: A) creditors with an unindexed contract are hurt because they get less than they expe
podryga [215]

Answer:

A is the correct option.

Explanation:

The increase in the general price is known as inflation. This inflation occurs when people know that Inflation is going to occur and they start preparing for it. e.g In case of increased interest rates if the inflation is anticipated, the banks try to protect themselves by increasing the interest rates. There is also unanticipated inflation which occurs when people are unaware that inflation until the price level increases. In the case of unanticipated inflation, people are unprotected.

4 0
3 years ago
If a perfectly competitive firm with constant returns to scale was reorganized as a​ monopoly, its monopoly price would be​ ____
ikadub [295]

Answer:

The correct answers are: greater​ than; less than.

Explanation:

In the perfect competition model, the nature of the scale returns poses serious problems, whatever the case considered. Sise assumes that the returns of scale are increasing, the supply of companies is infinite; if they are constant, the offer is null, infinite or indeterminate (equilibrium case); if they are decreasing, the profit of the companies is strictly positive in the balance '. In the latter case, if they could do so, companies would be interested in dividing themselves, without any limit, into entities as small as possible.

5 0
3 years ago
Other questions:
  • The key to building a network is to: a. be able to ask for favors. b. convince someone to do something that he or she may not or
    15·1 answer
  • If your monthly net (after-tax) income is $1,500, what should be your maximum amount spent on credit payments? $200
    15·2 answers
  • If you are feeling very anxious about delivering a speech, the most effective response is to
    14·1 answer
  • On 12/31/2015, Heaton Industries Inc. reported retained earnings of $675,000 on its balance sheet, and it reported that it had $
    10·1 answer
  • Why must people make choices in economic situations?
    15·1 answer
  • Food stamps” are part of what federal antipoverty program
    14·2 answers
  • The Balance Sheet reports assets, liabilities, and stockholders' equity at a specific date. A : True B : False
    10·1 answer
  • The people in an economy have $10 million in money. there is only one bank that all the people deposit their money in and it hol
    12·1 answer
  • A customer’s specification for weight of an antiseptic cream sold in plastic tubes is 4.00 ounces ± 0.02 ounces. The target p
    8·1 answer
  • Agricultural land includes all of the following EXCEPT which?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!