income can be determined by: dividing the annual rate of inflation into the number "70." dividing the nominal income by the price index. dividing the price level by nominal income.
income can be determined by: dividing the annual rate of inflation into the number "70." dividing the nominal income by the price index. dividing the price level by nominal income.
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 7E
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Question
1
Real income can be determined by:
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dividing the annual rate of inflation into the number "70."
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dividing the nominal income by the price index.
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dividing the price level by nominal income.
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inflating nominal income for inflation
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