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Elementary,Middle School,High School,College,University,PHD
Teaching Since: | Jul 2017 |
Last Sign in: | 210 Weeks Ago, 2 Days Ago |
Questions Answered: | 15833 |
Tutorials Posted: | 15827 |
MBA,PHD, Juris Doctor
Strayer,Devery,Harvard University
Mar-1995 - Mar-2002
Manager Planning
WalMart
Mar-2001 - Feb-2009
You are a public relations advisor for local firefighters who are threatening to strike on the grounds that since 2000 the city council hasn't given a real raise. The mayor retorts that the median salary for firefighters in 2000 was $31,500, and that today the median salary is $43,500, a raise of $12,000. You want to attack that argument by accounting for the effects of inflation (CPI in 2000 was 172.2 and today it's 243.8). So how much additional buying power -- if any -- do firefighters at the median salary have today as compared to 17 years ago? (Pick the answer that it closest to your calculation; rounding may give you a slightly different result.)
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$6,700 more
$775 more
$227 more
$23 more
Firefighters actually have about $1,100 LESS buying power.
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