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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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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