If Your Nominal Income in 2002 Was $50,000,and Prices Doubled

question 86

Multiple Choice

If your nominal income in 2002 was $50,000,and prices doubled between 2002 and 2008,to have the same real income,your nominal income in 2008 must be

• A)$50,000.
• B)$75,000.
• C)$90,000.
• D)$100,000.

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Definitions:

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