The table below shows the salaries for five presidents, as well as the Consumer

Question

The table below shows the salaries for five presidents, as well as the Consumer Price Index (CPI) for one of the years they were in office.

Use the information in the table to answer the questions below.

Part 1

Which president made the most in real terms? Which president made the least? Rank their real salaries from highest to lowest. Start highest real salary from the left

*Ulyess Grant

*Richard Nixon

*Theodore Roosevelt

*Barack Obama

*George Washington

President Nominal salary CPI (1983 base year) George Washington $25,000 8.8 Ulysses Grant 50,000 12 Theodore Roosevelt 75,000 9.1 Richard Nixon 200,000 36.7 Barack Obama 400,000 245

Explanation / Answer

Hence, the real salaries order (highest to lowest)

Roosevelt, Nixon, Grant, Washington, Obama

If the salaries kept up with increase from Roosevelt onwards,

Obama would have earned 2001000

If the salaries kept with the increase from Washington,

Obama would have earned a salary of 680340

President Nominal salary CPI (1983 base year) Salary/CPI George Washington 25000 8.8 2841 Ulysses Grant 50000 12 4166 Theodore Roosevelt 75000 9.1 8241 Richard Nixon 200000 36.7 5549 Barack Obama 400000 245 1632

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