If your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in

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If your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in some year, by what percentage would your real income

(approximately) increase? If your nominal income rose by 2.8 percent and your real income rose by 1.1 percent in some year, what must have been the (approximate) rate of inflation?

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Macroeconomics

ISBN: 9780077337728

19th Edition

Authors: Campbell Mcconnell, Stanley Brue, Sean Flynn, Flynn Mcconnell Brue

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Question Posted: Feb 16, 2024 10:01 AM

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If your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in

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Calculating Real Income Change Scenario 1 Nominal income increase ...View the full answer

Macroeconomics

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