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xenn [34]
3 years ago
10

If real income rises from $5 trillion to $6 trillion while the price level increases by 10 percent, it follows that nominal inco

me:
Business
1 answer:
AVprozaik [17]3 years ago
7 0

The nominal income will increase with the increase in the real income.

<u>Explanation:</u>

Real income of the person is the buying or the purchasing capacity of the person. It is the nominal income adjusted for inflation. If there is an increase in the real income more than the increase in the level of the prices at a particular period of time, it means that the level of nominal income of the person will also increase.

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Wage and tips income
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D

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3 years ago
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Tasya [4]

Answer:

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madreJ [45]

If real GDP is $200 billion, full employment GDP is $400 billion, and the marginal propensity to consume is 0.75, then Congress should-----

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is an economic situation in which all available labor resources are being used in the most efficient way possible. Full employment embodies the highest amount of skilled and unskilled labor that can be employed within an economy at any given time.

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