Henri earned a salary of $50,000 in 2001 and $60,000 in 2012 . The consumer price index was 177 in 2001 and 225 in 2012 . Henri's 2001 salary in 2012 dollars is

Which of the following best describes the main problem faced by farms in the long run?

A. Lagging technology has decreased the productivity of farmers and therefore resulted in low farm prices and incomes. B. The highly inelastic nature of agricultural demand has caused small year-to-year fluctuations in farm output to result in highly unstable farm incomes. C. The supply of farm products has increased relative to the demand for them, and, because demand is inelastic, farm prices and incomes have therefore declined. D. The demand for farm products has increased relative to their supply, but the highly elastic nature of agricultural demand has caused these shifts to result in declining farm incomes.

The BLS has recently made explicit adjustments in its CPI calculations to control for

A. food safety quality issues. B. purchase location adjustments. C. issues relating to the frequency of market basket updates. D. substitution between goods.