Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn

Exercise 25

Jimmer's nominal income will go up by 10 percent next year. Inflation is expected to be 22 percent next year. By approximately how much will Jimmer's real income change next year?
a. ?2 percent.
b. 8 percent.
c. 10 percent.
d. 12 percent.