Scenario 6-1
Grant Smith was a doctor. In 1944, he made $12,000. His daughter, Lisa Smith, is also a doctor. Last year she made $275,000. The price index in 1944 was 17.6 and the price index last year was 200.
-Refer to Scenario 6-1. What was the approximate ratio of Grant's real income to Lisa's real income?
A) 1:2
B) 3:5
C) 7:10
D) 7.5:10
Correct Answer:
Verified
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