Scenario 24-1
Grant Smith was a doctor in 1944 and earned $12,000 that year. His daughter, Lisa Smith, is a doctor today and she earned $210,000 in 2005. The price index in 1944 was 17.6 and the price index in 2005 was 184.
-Refer to Scenario 24-1.Lisa Smith's 2005 income in 1944 dollars is about
A) $20,087.
B) $24,667.
C) $31,022.
D) $36,556.
Correct Answer:
Verified
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