Suppose that a person's nominal income rises by 5 percent and the price level rises from 125 to 130. The person's real income will
a) rise by about 4 percent.
b) rise by about 1 percent.
c) remain constant.
d) fall by about 1 percent.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose that a person's nominal income rises by 5 percent and the price level rises from 125 to 130. The person's real income will a) rise ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
What was the result on appeal in the Case Opener involving the claim that Michael Jordan owed $5 million based on his agreement to pay the plaintiff's mother on the premise that he was the father, although it was later determined that the child was
Answers (1)
Liquidity is defined as A) the ease with which a given asset can be converted to a store of value. B) the ease with which a given asset can be converted to a unit of account.
Answers (1)
Which of the following statements is true?-direct costs can easily be traced to a cost object; indirect costs cannot be-both direct and indirect costs can easily be traced to a cost object-neither direct nor indirect costs are easily traced to a
Answers (1)
When there is an improvement in technology, holding all else constant, A. the production possibilities frontier will shift inward B. society faces larger opportunity costs from shifting productive resources from one use to another C.
Answers (1)
On 12/31/X4, Zoom, LLC, reported a $55,500 loss on its books. The items included in the loss computation were $27,000 in sales revenue, $12,000 in qualified dividends, $19,000 in cost of goods sold, $47,000 in charitable contributions, $17,000 in
Answers (1)
New Questions in Business
Which of the following characteristics would lead the auditor to assess control risk at a higher level? a. It is difficult for the auditor to determine or gain access to the organization or individuals who own and/or control the entity. b.
Answers (1)
The reason for the Fed being set up as an independent agency of government is to:
Answers (1)
Headings in reports that describe the content of the section and may even give a conclusion about the section are called:
Answers (1)
Coronado Company purchased land for $80,000. The company also paid $12,000 in accrued taxes on the property, incurred $5,000 to remove an old building, and received $2,000 from the salvage of the old building.
Answers (1)
Trueview video ads can be especially effective for driving what goals?
Answers (1)