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Suppose that in 2014 your income was $200,000 per year. In the year 2015 you income was $210,000, but in the interim the inflation rate
Suppose that in 2014 your income was $200,000 per year. In the year 2015 you income was $210,000, but in the interim the inflation rate was 6%. which of the following statements is true?
1Both your nominal and real income went up. |
2 | Your nominal income went up, but there's no way to tell what happened to your real income. |
3 | Your nominal income went up but your real income remained the same. |
4 | Your nominal income went up but your real income went down. |
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