QUESTION 10 In which of the following cases would real income rise? O a. Nominal income rises by 8 percent, and the price level rises by 10 percent. O b. Nominal income rises by 2 percent, and the price level remains unchanged. OC. Nominal income falls by 4 percent, and the price level falls by 2 percent. O d. Real income will rise in all of these cases.

QUESTION 10 In which of the following cases would real income rise? O a. Nominal income rises by 8 percent, and the price level rises by 10 percent. O b. Nominal income rises by 2 percent, and the price level remains unchanged. OC. Nominal income falls by 4 percent, and the price level falls by 2 percent. O d. Real income will rise in all of these cases.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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