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Suppose that person's nominal income rises from $10,000 to $12,000 and the customer price index rises from 100 to 110 the person's real income will
Suppose that person's nominal income rises from $10,000 to $12,000 and the customer price index rises from 100 to 110 the person's real income will be ?
a) fall by 10%
b) fall by 5%
c) rise by about 20%
d) rise by about 10%
e) rise by about 5%
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