If Nominal National Income Increased by 10% Over a Certain

question 69

Multiple Choice

If nominal national income increased by 10% over a certain period of time while real national income increased by 20%,then

• A)everybody in the economy became worse off.
• B)inflation has occurred during this time period.
• C)the labour force increased by 10%.
• D)the price level has declined by about 10%.
• E)the price level has increased by approximately 10%.

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Definitions:

Amino Acid Sequence

The order of amino acids in a protein, which determines the protein's structure and function.

Nucleotide Sequence

The order of nucleotides in a DNA or RNA strand that encodes for genetic information.

Amino Acids

Organic compounds containing amine and carboxyl functional groups, serving as the building blocks of proteins.

Nucleotide Sequence

The order of nucleotides in a strand of DNA or RNA, which determines the genetic information carried by that strand.