a. Calculate the percentage of real income (approximately) in dubai b. Assume that the nominal income rose by 4.1 percent and your real income rose by 2.7 percent in some year, Calculate the approximate rate of inflation

a. Calculate the percentage of real income (approximately) in dubai b. Assume that the nominal income rose by 4.1 percent and your real income rose by 2.7 percent in some year, Calculate the approximate rate of inflation

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 13P

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Question

Suppose your nominal income in dubai economic
rose by 6.4 percent and the price level rose by
4.2 percent in some year
Required:
a. Calculate the percentage of real income
(approximately) in dubai
b. Assume that the nominal income rose by 4.1
percent and your real income rose by 2.7 percent
in some year, Calculate the approximate rate of
inflation

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