If Your Real Income in Base Year Prices Is $50,000,then

question 215

Multiple Choice

If your real income in base year prices is $50,000,then if the CPI is 170,what is your nominal income?

• A)$29,411.76
• B)$50,000.00
• C)$85,000.00
• D)$71,428.57
• E)$70,000.00

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Definitions:

Drawer

The maker of a draft.

Drawee

The party, typically a bank or financial institution, upon whom a cheque or draft is drawn and is responsible for paying the specified amount to the holder or bearer of the instrument.

Payees

Individuals or entities to whom money is to be paid or is owed.

Discrepancy

A lack of compatibility or similarity between two or more facts, figures, or findings leading to a deviation from what is expected or agreed upon.