In 1931, president herbert hoover was paid a salary of $75000. government statistics show a consumer price index of 15.2 for 1931 and 207 for 2007. president hoover's 1931 salary was equivalent to a 2007 salary of about
given: cpi=15.2 in 1931, salary 75000; cpi=207 in 2007, salary=?
75000x(207/15.2)=1021381.57

$ 1,021,381.578

Explanation:

Given

The consumer price index in the year 1931 = 15.2

Salary of the president in 1931 = $75000

The consumer price index in the year 2007 = 207

Therefore the salary of the president in the year 2007 is given by

                                                       =  75000 x ( 207/15.2 )

                                                       =   $ 1,021,381.578

Thus the salary of the president is $ 1,021,381.578 in 2007.

the united states has a federal government. the president is the head of the federal government of the united states. however, each state forms its government for administration purposes. the powers of the state governments are exercised within restricted state boundaries. and citizens participate in this government by voting.

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