Multiple Choice
A person's real income will increase by 3% if her nominal income:
A) Increases by 5% while the price index falls by 2%
B) Increases by 5% while the price index rises by 2%
C) Increases by 2% while the price index rises by 5%
D) Increases by 2% while the price index falls by 5%
Correct Answer:
Verified
Correct Answer:
Verified
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