Multiple Choice
In 2017 Robinson's nominal income rose by 4% and the price level rose by 6%.What can we conclude about Robinson's real income?
A) It may have either increased or decreased.
B) It rose by 2%.
C) It fell by 2%.
D) It rose by 10%.
E) It fell by 2.4%.
Correct Answer:
Verified
Correct Answer:
Verified
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