If inflation is 4 percent per year and you receive a 3 percent raise in income, then your: a. Real income rises, but nominal income falls. O b. Real income falls, but nominal income rises O C. Real and nominal incomes both fall O d. Real and nominal incomes both rise.

If inflation is 4 percent per year and you receive a 3 percent raise in income, then your: a. Real income rises, but nominal income falls. O b. Real income falls, but nominal income rises O C. Real and nominal incomes both fall O d. Real and nominal incomes both rise.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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