If the Price of Your Cell Phone Service Increases from $70

question 23

Multiple Choice

If the price of your cell phone service increases from $70 to $105 over a period of one year and your income rises from $1,500 to $1,525,your nominal income has

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

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Definitions:

Parent

An individual who has begotten or borne offspring and is responsible for their care and upbringing.

Child

A child is a young human being below the age of puberty or below the legal age of majority.

Control

The power to influence or direct people's behavior or the course of events.

Middle Childhood

A stage of development that encompasses the period from approximately 6 to 12 years old, marked by significant growth in logical thinking, independence, and understanding of social relationships.