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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What is the relationship between your nominal income and the inflation rate if you are more than keeping up with inflation?

To determine

Nominal income and rate of inflation.

Explanation

Nominal income is the income of an individual, which is not adjusted for inflation. Inflation is a steady increase in the price level, which exists for a longer period of time...

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