If Your Gasoline Purchases Decrease from $150 Per Month to $80

question 58

Multiple Choice

If your gasoline purchases decrease from $150 per month to $80 over a period of one year due to lower prices and your income decreases from $1,600 per month to $1,500 per month,your nominal income has

• A)Increased,but your real income has decreased.
• B)Decreased,but your real income has increased.
• C)Increased,and your real income has increased.
• D)Increased,but your real income has remained the same.

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Definitions:

Economy

The system of production, consumption, and trade, as well as the allocation of resources in a specific geographical area or globally.

Media in China

is heavily regulated by the government, with strict controls over what can be published, broadcast, and accessed by the public.

Government Controlled

Entities or activities that are regulated, operated, or overseen by government agencies or authorities.

Senior-level Executive

High-ranking officers in a company or organization, responsible for making major decisions and determining overall strategic directions.