If a person's nominal income increases by 5% while the price level increases by 2%, then that person's real income:
A. Increases by 3%
B. Increases by 5%
C. Decreases by 7%
D. Decreases by 2%
A. Increases by 3%
Economics
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Net present value of a project equals:
A) Discounted Benefit - Discounted Cost. B) Discounted Cost × Discounted Benefit. C) Discounted Cost/Discounted Benefit. D) Discounted Benefit/Discounted Cost.
Economics
Free trade ________ living standards by ________ economic efficiency
A) lowers; eliminating B) raises; equalizing C) lowers; decreasing D) raises; increasing
Economics