In year 1 the CPI is 175, and in year 2 the CPI is 189. If Dennis's salary was $82,000 in year 1, what is the minimum salary he must earn in year 2 to "keep up with inflation"?

a. $83,550
b. $92,360
c. $85,750
d. $88,560


Answer: d. $88,560

Economics

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