If Your Nominal Income in 2002 Was $50,000,and Prices Doubled

question 53

Multiple Choice

If your nominal income in 2002 was $50,000,and prices doubled between 2002 and 2011,to have the same real income,your nominal income in 2011 must be

• A) $50,000.
• B) $75,000.
• C) $90,000.
• D) $100,000.

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