The nominal salary paid to the president of the United States along with data for the consumer
Question:
The nominal salary paid to the president of the United States along with data for the consumer price index (CPI) are given for various years below.
a. Calculate the president’s real salary measured in the purchasing power of the dollar in 2000.
b. In which year was the real presidential salary the highest? In which year was the real presidential salary the lowest?
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Step by Step Answer:
a b Highest salary was in 1940 and the lowest in 20...View the full answer
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Related Book For 
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
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