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Rama09 [41]
1 year ago
6

If the money supply has increased by 3 percent, nominal income has risen 5 percent and the price level has risen by 1 percent, w

hat is the percent change in real income
Business
1 answer:
Shalnov [3]1 year ago
4 0

4% is the percent change in real income.

What is the meaning of real income?

Real income, also known as real pay when referring to an individual's income, is the amount of money that an individual or entity makes after taking inflation into account. To have the best knowledge of their purchasing power, people frequently closely monitor the difference between their nominal and actual income.

What is meant by nominal income?

Nominal income is money that hasn't been adjusted for inflation-related changes in buying power, or how much one can buy with that money.

What Is Price Level?

The price level is determined by averaging the current prices for all the goods and services produced in an economy. Price level, in a broader sense, refers to the cost or price of a good, service, or security in the market.

Learn more about real income: brainly.com/question/17094716

#SPJ4

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Answer:

In 2012, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a mandarin was $3.00. Which of the following give the nominal value of a variable? Check all that apply.

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Nominal values are expressed in terms of current money. real variables are represented in terms of other goods or services.

Which of the following give the real value of a variable? Check all that apply.

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Nominal values are expressed in terms of current money. real variables are represented in terms of other goods or services.

Suppose that the Fed sharply increases the money supply between 2012 and 2017. In 2017, Eleanor's wage has risen to $54.00 per hour. The price of a paperback novel is $18.00 and the price of a mandarin is $6.00. In 2017, the relative price of a paperback novel is <u>still 3 mandarins</u>.  

Between 2012 and 2017, the nominal value of Eleanor's wage <u>doubled</u>, and the real value of her wage <u>remained constant</u>.

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Which among the following processes of a dentist's office is the most likely a back-office process?

A back office process is a process that supports the front office processes. In the service industry such as this - dental services - a back office process won't require the presence of the client.

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Filing a claim with the patient's dental insurance provider requires the presence of one or both of the client and his insurance officer.

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Same with option C.

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