Multiple Choice
If nominal national income increased by 10% over a certain period of time while real national income increased by 20%,then
A) everybody in the economy became worse off.
B) inflation has occurred during this time period.
C) the labour force increased by 10%.
D) the price level has declined by about 10%.
E) the price level has increased by approximately 10%.
Correct Answer:

Verified
Correct Answer:
Verified
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