If Your Gasoline Purchases Decrease from $150 Per Month to $80

question 76

Multiple Choice

If your gasoline purchases decrease from $150 per month to $80 over a period of one year due to lower prices and your income decreases from $1,600 per month to $1,500 per month,your nominal income has

• A)Increased,but your real income has decreased.
• B)Decreased,but your real income has increased.
• C)Increased,and your real income has increased.
• D)Increased, but your real income has remained the same.

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Definitions:

National Front

A political party or movement in various countries, often characterized by its nationalist, xenophobic, or far-right ideologies.

Algerian War

A conflict between France and the Algerian National Liberation Front from 1954 to 1962, leading to Algeria gaining its independence from France.

Common Currency

A common currency refers to a monetary system in which multiple countries or territories use the same currency, facilitating trade and economic policy coordination.

Nationalist Party

A political party that aims to promote the interests of a particular nation or group of people, especially in terms of self-governance and sovereignty.