The real income of Smith in 2030 in 2020 dollars
= 90000*300/600
=$45000 is the answer.
Income is the intake and saving opportunity received through an entity inside a specific timeframe, that's commonly expressed in monetary terms. profits is tough to outline conceptually and the definition may be distinct across fields.
The term “earnings” usually refers to the quantity of cash, belongings, and different transfers of price obtained over a set time period in trade for services or products. there is no single, wellknown definition: profits is described according to the context wherein the idea is used.
The definition of profits is the amount of money received via someone, group or employer in the course of a certain period of time. An example of an earnings is a $70,000 a 12 months salary.
Learn more about income here:https://brainly.com/question/25745683
#SPJ4
