Multiple Choice
Which of the following formulas is correct? Percentage change in
A) price level approximates percentage change in real income minus percentage change in nominal income.
B) real income approximates percentage change in nominal income minus percentage change in price level.
C) nominal income approximates percentage change in price level minus percentage change in real income.
D) real income approximates percentage change in price level minus percentage change in nominal income.
Correct Answer:
Verified
Correct Answer:
Verified
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