Question
the Average annual income for a female in Wisconsin is $38000, while for a male it is $45,000. If prices rise by 2% next year
the Average annual income for a female in Wisconsin is $38000, while for a male it is $45,000. If prices rise by 2% next year and salaries of both females and males rise by 2% we can expect
a) no change in nominal income while real income rose
b) no charge in nominal income and no change in real income
c) Nominal income rose and no charge in real income
d) nominal income rose while real income fell
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
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