Real Income for a Given Year Would Be Less Than

question 11

Multiple Choice

Real income for a given year would be less than nominal income in that year if:

• A) the consumer price index was less than 100 in that year.
• B) nominal income in that year was greater than nominal income in the previous year.
• C) nominal income in that year was less than nominal income in the previous year.
• D) the consumer price index was greater than 100 in that year.

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