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Your grandfather tells you that he earned $ 6 , 0 0 0 / year in his first job in 1 9 5 8 .

Your grandfather tells you that he earned $6,000/year in his first job in 1958. You earn $36,000/year in your first job in 2019. You know that average prices have risen steadily since 1961. You earn
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less than 6 times as much as your grandfather in terms of real income.
6 times as much as your grandfather in terms of real income.
less than 6 times as much as your grandfather in terms of nominal income.
more than 6 times as much as your grandfather in terms of real income.

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