If You Get an 8 Per Cent Increase in Your

question 58

Multiple Choice

If you get an 8 per cent increase in your nominal income, your real income

• A) definitely increases.
• B) increases if the inflation rate is more than or equal to 8 per cent.
• C) increases only if the inflation rate is more than 8 per cent.
• D) increases only if the inflation rate is less than 8 per cent.
• E) increases only if the inflation rate is equal to 8 per cent.

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