13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary was $59,140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals) In 2018 your annual salary was $54,370 per year and the CPI was 133 . . In 2022 your annual salary was $59, 140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals) 13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary was $59,140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals)
13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary was $59,140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals) In 2018 your annual salary was $54,370 per year and the CPI was 133 . . In 2022 your annual salary was $59, 140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals) 13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary was $59,140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary
was $59,140 and the CPI was 151.2.
a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the
rate of inflation from 2018 to 2022? Round your answer to the nearest dollar.
b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from
part (a)? You must specifically state whether it was above or below the inflation adjusted salary.
(answer as a % to 2 decimals)
Transcribed Image Text:In 2018 your annual salary was $54,370 per year and the CPI was 133 . . In 2022 your annual salary was $59, 140 and
the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the
rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022
salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or
below the inflation adjusted salary. (answer as a % to 2 decimals)
13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary
was $59,140 and the CPI was 151.2.
a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the
rate of inflation from 2018 to 2022? Round your answer to the nearest dollar.
b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from
part (a)? You must specifically state whether it was above or below the inflation adjusted salary.
(answer as a % to 2 decimals)
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