The Table Shown Displays the Price-Level Adjustments for Australia, China

question 50

Multiple Choice

The table shown displays the price-level adjustments for Australia, China, and Mexico as compared to the United States. If Jasmine is earning $30,000 in the United States and Roberto is earning $40,000 in Mexico, what can be said about their standards of living?

• A) Roberto is earning more in real terms than Jasmine.
• B) Jasmine is earning more in real terms than Roberto.
• C) Jasmine and Roberto are earning the same amount in real terms.
• D) Jasmine and Roberto are earning the same amount in nominal terms.

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Definitions:

Stomach Acids

A mixture of hydrochloric acid, potassium chloride, and sodium chloride, which helps in the digestion of food within the stomach.

Cholecystokinin (CCK)

A hormone that stimulates the digestion of fat and protein.

Cholecystokinin

A hormone that stimulates the digestion of fat and protein by prompting the release of digestive enzymes and bile from the pancreas and gallbladder, respectively.

Secretin

A hormone that stimulates the secretion of digestive juices from the pancreas and bile from the liver into the small intestine.