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If price index for the current year is 150 and national income at current price is $150000 million Then the national income at constant price will be:-

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 27CTQ: Describe a situation, either a government policy situation, an economic problem, or a private sector...

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Question

If price index for the current year is 150 and national income at current price is $150000 million

Then the national income at constant price will be:-

Definition Definition Monetary value of all goods and services produced in an economy during a financial year. National income also refers to the total income earned by the factors of production during a financial year.

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