Which of the following statements is true if the average inflation rate is 5 percent per year and the real salary of Andy has declined?
A) The purchasing power of Andy will increase.
B) The annual growth rate in Andy's salary is less than 5 percent.
C) Employment opportunities for Andy will increase.
D) The annual growth in Andy's salary is equal to the average inflation rate.
E) The cost of borrowing for Andy will be less than 5 percent.
B
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