Real income is found by:
A. dividing nominal income by 70.
B. multiplying nominal income by 1.03.
C. dividing the price index (in hundredths) by nominal income.
D. dividing nominal income by the price index (in hundredths).
D. dividing nominal income by the price index (in hundredths).
Economics
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What will be an ideal response?
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According to the Taylor rule, if inflation in the last year was 6% and output was 2% below its full-employment level, the nominal Fed funds rate should be
A) 3%. B) 5%. C) 7%. D) 9%.
Economics