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

question 131

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 2016.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.

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Definitions:

Trial Close

A sales technique where the salesperson tests the willingness of the customer to buy during the sales presentation.

Multiple Closes

A sales technique involving the use of various closing strategies to secure a deal or sale.

Mental Buying Process

The psychological stages a consumer goes through before making a purchase decision.