Suppose a Person Receives a Salary of £15 000 in 2012

question 7

Multiple Choice

Suppose a person receives a salary of £15 000 in 2012 and the price index for the year is 115. The inflation-adjusted salary is approximately _____.

• A) £17 250
• B) £13 274
• C) £15 000
• D) £13 043

---

Definitions:

Special Legislation

Laws that are made to meet specific needs or regulate particular issues, as opposed to general legislation that applies to broader situations.

Binding Agreements

Contracts or legal agreements that are enforceable by law, where all parties must adhere to the terms stated.

Insane Person

An outdated term often associated with individuals suffering from mental illness or incapacity, which impacts their ability to understand or participate in certain legal processes.

Incapacity

A condition where an individual is legally unable to make decisions for themselves due to mental or physical limitations.