What Is the Difference Between Nominal Income and Real Income

Multiple Choice

What is the difference between nominal income and real income?

A) Nominal income is income earned before taxes,real income is income after taxes.
B) Nominal income is income earned from all factor services,real income is income earned from employment only.
C) Nominal income is the amount of income measured in base-year prices,real income is income measured in current prices.
D) Nominal income is present dollar-value of income,real income is the purchasing power of income.