Business, 21.10.2019 17:20 kakkakak4696

If the growth rate in nominal income is larger than the inflation rate (as measured by the change in the cpi or the gdp deflator), the real value of income has: increased since real income has grown faster than the price index. decreased since nominal income has grown faster than the price index. increased since nominal income has grown faster than the price index. decreased since real income has grown slower than the price index.

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If the growth rate in nominal income is larger than the inflation rate (as measured by the change in...