Mia Denton was an accountant in 1943 and earned $21,000 that year. Her son was an accountant too and he earne $27,000 in 1944. Suppose the price index was 18.3 in 1943 and 20.2 in 1944. Refer to Scenario 24-1. In real terms, the income of Mia's son amounts to about what percentage of Mia's income in 1943? a) 8.6 percent b) 116.48 percent c) 12.9 percent d) 1.1 percent
Mia Denton was an accountant in 1943 and earned $21,000 that year. Her son was an accountant too and he earne $27,000 in 1944. Suppose the price index was 18.3 in 1943 and 20.2 in 1944. Refer to Scenario 24-1. In real terms, the income of Mia's son amounts to about what percentage of Mia's income in 1943? a) 8.6 percent b) 116.48 percent c) 12.9 percent d) 1.1 percent
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.2P
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Select the correct one and explain it.
![Mia Denton was an accountant in 1943 and earned $21,000 that year. Her son was an accountant too and he earne
$27,000 in 1944. Suppose the price index was 18.3 in 1943 and 20.2 in 1944.
Refer to Scenario 24-1. In real terms, the income of Mia's son amounts to about what percentage of Mia's income
in 1943?
a) 8.6 percent
b) 116.48 percent
c)
12.9 percent
d) 1.1 percent](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb66013ac-738d-4556-a2f9-f98807fcfd29%2F93c9f362-26bc-4738-b2b9-e41a372036da%2Fjhtjgum_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Mia Denton was an accountant in 1943 and earned $21,000 that year. Her son was an accountant too and he earne
$27,000 in 1944. Suppose the price index was 18.3 in 1943 and 20.2 in 1944.
Refer to Scenario 24-1. In real terms, the income of Mia's son amounts to about what percentage of Mia's income
in 1943?
a) 8.6 percent
b) 116.48 percent
c)
12.9 percent
d) 1.1 percent
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