a. Calculate the percentage of real income (approximately) in dubai b. Assume that the nominal income rose by 4.1 percent and your real income rose by 2.7 percent in some year, Calculate the approximate rate of inflation

a. Calculate the percentage of real income (approximately) in dubai b. Assume that the nominal income rose by 4.1 percent and your real income rose by 2.7 percent in some year, Calculate the approximate rate of inflation

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 27CTQ: Describe a situation, either a government policy situation, an economic problem, or a private sector...

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Question

Suppose your nominal income in dubai economic
rose by 6.4 percent and the price level rose by
4.2 percent in some year
Required:
a. Calculate the percentage of real income
(approximately) in dubai
b. Assume that the nominal income rose by 4.1
percent and your real income rose by 2.7 percent
in some year, Calculate the approximate rate of
inflation

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