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(Table 1: Econia's Consumer Price Index and Salary Data, 2008

Question 34

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(Table 1: Econia's Consumer Price Index and Salary Data, 2008 and 2018) Table 1 provides data on Econia's Consumer Price Index (CPI) and average salaries for two years. A newspaper headline states "Well-being of Econia's workers doubles over decade." Was this headline correct?  Table 1: Econia’s Consumer Price Index and Salary Data, 2008 and 2018 Consumer Price Index  Average Salary (current U.S.  dollars)  2008140$60,0002018200$120,000\begin{array}{l}\text { Table 1: Econia's Consumer Price Index and Salary Data, } 2008 \text { and } 2018\\\begin{array}{|l|l|l|}\hline &{\text { Consumer Price Index }} & {\begin{array}{c}\text { Average Salary (current U.S. } \\\text { dollars) }\end{array}} \\\hline 2008 & 140 & \$ 60,000 \\\hline 2018 & 200 & \$ 120,000 \\\hline\end{array}\end{array}


A) Yes; average salary doubled.
B) Yes; average salary rose twice as fast as the price level.
C) No; salaries adjusted for the price level did not double.
D) No; real salaries rose twice as fast as prices.

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