your grandfather tells you that he earned $5000 year in his first job in 1947. you earn $35,ooo year

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your grandfather tells you that he earned $5000 year in his first job in 1947. you earn $35,ooo year in your 1st job in 2007 you know that average prices have risensteadly since 1947. you earn?

a. less than 7 times as much as your grandfather in terms of real income
b. more than 7 times as much as your grandfather in terms of real income
c. less than 7 times as much as your grandfather in terms of nominal income
d. 7 times as much as your grandfather in terms of income

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