Multiple Choice
Scenario 24-1
Sue Lewis was an accountant in 1943 and earned $12,000 that year. Her son is an accountant too and he earned $220,000 this year. Suppose the price index was 18.9 in 1943 and 20.5 in the current year.
-Refer to Scenario 24-1. In real terms, Sue's income amounts to about what percentage of her son's income?
A) 18.3 percent
B) 1690.2 percent
C) 5.9 percent
D) 1.1 percent
Correct Answer:
Verified
Correct Answer:
Verified
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