When the Nominal Price of a Good Increases Over Time,the

question 69

Multiple Choice

When the nominal price of a good increases over time,the real cost of buying the good

• A)decreases because income also increases over time.
• B)must increase.
• C)might increase,decrease or stay the same depending on how much the CPI changed.
• D)does not change because income also increases over time.
• E)might increase,decrease or stay the same depending on how much income changed.

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Definitions:

Square Feet

A measurement of area equal to a square that is one foot on each side, commonly used to measure the size of rooms or buildings.