If Nominal National Income Increased by 20% Over a Certain

question 27

Multiple Choice

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

• A)everybody in the economy became worse off.
• B)inflation has decreased 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:

Eye Contact

The act of looking directly into another person's eyes, which can communicate various messages and emotions in social interactions.

Communication Transparency

The open sharing of honest and complete information about the organization and workplace affairs.

Organizational Members

Individuals who are part of an organization and contribute to its culture, goals, and functions through their roles and activities.

Feedback

Information returned to a person or system about the results of an activity or process, used as a basis for improvement.