Multiple Choice
Given the following figures, by approximately what percentage did Michael's real income increase between 2008 and 2009? Michael's 2008 money income = $60,000
Michael's 2009 money income = $72,000
2008 CPI = 120.0
2009 CPI = 128.0
A) zero
B) 6.7 percent
C) 12.5 percent
D) 20 percent
Correct Answer:
Verified
Correct Answer:
Verified
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