Suppose Mack's Wage Was $7

question 7

Multiple Choice

Suppose Mack's wage was $7.00 an hour in 2001 and $12.00 an hour in 2012. The CPI was 94 in 2001 and 201 in 2012. The 2001 hourly wage in terms of 2012 dollars is

• A) $7.00.
• B) $3.48.
• C) $14.07.
• D) $14.97.
• E) $13.16.

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Definitions:

Prematurely

Occurring or done before the usual or proper time; too early.

Developmental Stage

A phase or period in life characterized by specific physiological and psychological features that lead to new and more advanced levels of functioning.

Prenatal Development

The development and growth journey inside the womb from the point of conception to the time of birth.

Zygotic Stage

The earliest developmental stage of an embryo, starting from fertilization until it becomes a blastocyst.