If your nominal income rises 4 percent and your real income falls 1 percent, by how much did the price level change?
The %Δ in real income is equal to the %Δ in nominal income less the rate of inflation.
269 MCQ for effective preparation of the test of Macroeconomics of Economics section.
Read the MCQ statement: If your nominal income rises 4 percent and your real income falls 1 percent, by how much did the price level change? , keenly and apply the method you have learn through the video lessons for Macroeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 35-4045.