If the Price Level Increases by 15 Percent While Nominal

question 98

Multiple Choice

If the price level increases by 15 percent while nominal income increases by 8 percent, then in percentage terms real income would:

• A)rise by about 8 percent.
• B)fall by about 8 percent.
• C)fall by about 7 percent.
• D)fall by about 15 percent.

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Definitions:

Leaders

Individuals who influence, guide, or direct others within an organization or group towards achieving a collective goal.

Norm

A behavioural expectation, rule, or standard to be followed by team members.

Behaviour

The manner in which an individual or group acts or conducts themselves, especially towards others.

Members

Individuals who are part of a group, organization, or community and often share common interests or goals.