Business
Business, 14.01.2020 18:31, hardwick744

Your grandfather tells you that he earned $7,000/year in his first job in 1961. you earn $35,000/year in your first job in 2016. you know that average prices have risen steadily since 1961. you earna) 5 times as much as your grandfather in terms of real income. b) more than 5 times as much as your grandfather in terms of real income. c) less than 5 times as much as your grandfather in terms of real income. d) less than 5 times as much as your grandfather in terms of nominal income.

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Your grandfather tells you that he earned $7,000/year in his first job in 1961. you earn $35,000/yea...

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