Multiple Choice
If real income increases by 4 percent and the price level increases by 3 percent, nominal income must:
A) increase by 7 percent.
B) increase by 1 percent.
C) decrease by 1 percent.
D) decrease by 7 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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Q219: The federal funds rate is the rate
Q220: If output falls 1.0 percentage point below
Q221: Most decisions about implementing monetary policy are
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