Scenario 6-1
Grant Smith was a doctor in 1944 and made about $12 000 a year. His daughter Lisa Smith also is a doctor and she made about $175 000 in 2006. The price index in 1944 was 17.6 and the price index was 192 in 2006.
-Refer to Scenario 6-1. What was the ratio of Grant's real income to Lisa's real income?
A) 2:15
B) 3:5
C) 7:10
D) 7.5:10
Correct Answer:
Verified
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