63. Cartmans annual salary increased by 3 percent from 2010 to 2011. Over the same period of...
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63. Cartman’s annual salary increased by 3 percent from 2010 to 2011. Over the same period of time, the Consumer Price Index increased from 100 to 102. Given this, we can say that:
A. Cartman’s nominal income increased by 3 percent and his real income increased by about 5 percent.
B. Cartman’s nominal income increased by 3 percent and his real income stayed constant.
C. Cartman’s nominal income increased by 2 percent and his real income increased by 3 percent.
D. Cartman’s nominal income increased by 3 percent and his real income increased by about 1 percent.
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