Your Grandfather Tells You That He Earned $5,000/year in His

question 63

Multiple Choice

Your grandfather tells you that he earned $5,000/year in his first job in 1971.You earn $45,000/year in your first job in 2017.You know that average prices have risen steadily since 1961.You earn

• A)9 times as much as your grandfather in terms of real income.
• B)more than 9 times as much as your grandfather in terms of real income.
• C)less than 9 times as much as your grandfather in terms of real income.
• D)less than 9 times as much as your grandfather in terms of nominal income.
• E)more than 9 times as much as your grandfather in terms of nominal income.

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Definitions:

Epinephrine

A hormone and neurotransmitter, also known as adrenaline, involved in the body's fight-or-flight response, increasing heart rate, blood pressure, and energy supplies.

Cold Emotion

Emotions that are not driven by intense feelings or passions and are often characterized by detachment or rational assessment.

Physiological Results

Physiological results are outcomes or responses in the body to various stimuli, conditions, or interventions.

Intense Fear

A strong emotional response to perceived or real danger, characterized by feelings of anxiety and dread.