Multiple Choice
When the price of a product rises faster than the inflation rate,
A) Nominal incomes of the consumers of that product fall.
B) Users of that product have higher real incomes than people who do not consume the product.
C) Nominal incomes of the consumers of that product rise.
D) Real incomes of the consumers of that product fall.
Correct Answer:
Verified
Correct Answer:
Verified
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