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

question 62

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 2013.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:

Document

A written, drawn, presented, or recorded representation of thoughts, ideas, or information, available in digital or physical format.

File

A digital container used to store data or information on a computer or other digital device, which can be of various formats and types.

Extend

In computing, to increase the size, capacity, or range of an entity or function.

Database Management System

Software that enables the creation, editing, and management of databases, facilitating data storage, manipulation, and retrieval.