Multiple Choice
Between 2004 and 2014, Jack's salary increased from $100,000 per year to $200,000 per year.The price index increased from 100 to 300 during the same period.Which statement best describes Jack's situation?
A) Jack's real income increased, and his money income decreased.
B) Jack's real income increased, and his money income increased.
C) Jack's real income decreased, and his money income decreased.
D) Jack's real income decreased, and his money income increased.
Correct Answer:
Verified
Correct Answer:
Verified
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