Question 34 You earned $30,000 in 2009, and your salary rose to $80,000 in 2018. If the CPI rose from 82 to 202 between 2009 and 2018, which of the following is true? The purchasing power of your salary increased between 2009 and 2018. There was deflation between 2009 and 2018. The purchasing power of your salary remained constant between 2009 and 2018. The purchasing power of your salary fell between 2009 and 2018.

Question 34 You earned $30,000 in 2009, and your salary rose to $80,000 in 2018. If the CPI rose from 82 to 202 between 2009 and 2018, which of the following is true? The purchasing power of your salary increased between 2009 and 2018. There was deflation between 2009 and 2018. The purchasing power of your salary remained constant between 2009 and 2018. The purchasing power of your salary fell between 2009 and 2018.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 12
Post Covid-19 recession (late 2020-present), nominal GDP has increased
real GDP, reflecting the fact that we have seen
less than; negative (deflation)
less than; low (and positive)
the same amount as; 0
much more than; high (and positive)
inflation.

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