Your Grandfather Tells You That He Earned $7,000/year in His

question 162

Multiple Choice

Your grandfather tells you that he earned $7,000/year in his first job in 1961.You earn $35,000/year in your first job in 2018.You know that average prices have risen steadily since 1961.You earn

• A)5 times as much as your grandfather in terms of real income.
• B)more than 5 times as much as your grandfather in terms of real income.
• C)less than 5 times as much as your grandfather in terms of real income.
• D)less than 5 times as much as your grandfather in terms of nominal income.

---

Definitions:

DNA Molecule

The carrier of genetic information, consisting of two long chains of nucleotides twisted into a double helix.

Promoter

In DNA, a sequence that is a site where RNA polymerase binds and begins transcription.

Codons

Sequences of three nucleotides in mRNA that specify the addition of a specific amino acid or the termination of translation.

Amino Acid

Organic compounds that serve as the building blocks of proteins, necessary for the growth and repair of body tissues.