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Bezzdna [24]
3 years ago
10

The salary of the president of the United States in 2000 was $400,000. In 1940, the president's salary was $75,000. If the Consu

mer Price Index was 8.1 in 1940 and 100 in 2000, the 1940 presidential salary measured in terms of the purchasing power of the dollar in 2000 would be: a. less than $75,000. b. less than $400,000. c. approximately $668,850. d. approximately $926,000.
Business
1 answer:
pshichka [43]3 years ago
3 0

Answer:

D. Approximately $926,000

Explanation:

To compute the purchasing power of president of the united state's salary in 1940, we will divide 100 by 8.1

= 100/8.1

= 12.3457

The next step is to multiply the above result by $75,000

= 12.3457 × $75,000

= $925,925.93

The above means that in real dollars adjusted to inflation, the president in 1940 earned more than twice the president in 2000

Therefore, 1940 presidential salary measured in yes of purchasing power of the dollar in 2000 would be approximately $926,000

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8 0
4 years ago
Assume there are only three possible states of nature for the economy in the future: boom, normal, and recession. If there is a
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Answer:

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Explanation:

The sum of total probabilities  is always equal to 1. Since in the given question only three probabilities are given, so the sum of these three probabilities shall be 1 which is represented as follows by the equation:

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In the given question:

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4 years ago
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liubo4ka [24]

Answer:

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How much ever percent she cuts so will the value of her sales
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4 years ago
When researching a specific job, what information should you be looking for?
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Hope this helps! :) have a blessed day. 
3 0
3 years ago
Read 2 more answers
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