Multiple Choice
In 2014, Ortega's nominal income rose by 8 percent and the price level rose by 5 percent.We can conclude that Ortega's real income:
A) fell by 13 percent.
B) rose by 13 percent.
C) rose by 3 percent.
D) fell by 3 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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