If the Price of Your Cell Phone Service Increases from $70

Multiple Choice

If the price of your cell phone service increases from $70 to $105 over a period of one year and your income rises from $1,500 to $1,525,your nominal income has

A) Increased,and your real income has increased.
B) Increased,but your real income has decreased.
C) Decreased,and your real income has decreased.
D) Increased,but your real income has remained the same.