Multiple Choice
Given the following figures,by approximately what percentage did Mike's real income increase between 2004 and 2005?
Mike's 2004 money income = $50,000
Mike's 2005 money income = $55,000
2004 CPI = 120.0
2005 CPI = 128.0
A) zero
B) 3.1 percent
C) 6.7 percent
D) 10 percent
Correct Answer:
Verified
Correct Answer:
Verified
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