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# What is the buying power of a salary of \$10,000 at the

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Intern
Joined: 29 Jul 2005
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What is the buying power of a salary of \$10,000 at the [#permalink]

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18 Aug 2005, 13:31
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What is the buying power of a salary of \$10,000 at the present time in terms of what the same salary could have purchased N years ago?

1. The buying power of the dollar has decreased in value from \$1.00 to \$.60 during the past N years.
2. Because of the decrease in the buying power of the dollar, a typical article which would have cost \$15 N yrs ago cost \$25.

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Manager
Joined: 14 Jul 2005
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Location: Sofia, Bulgaria

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18 Aug 2005, 14:15
(D) because both statements tell us that the price level has risen by 67% for N years.
10K today buy as much as 6K N years ago or
16.7K today buy as much as 10K N years ago

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18 Aug 2005, 14:15
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