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02-11-2022
Business

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suppose your nominal income rises by 5.3 percent and the price level rises by 3.8 percent in some year. instructions: round your answers to 1 decimal place. a. by what percentage will your real income (approximately) increase? percent b. if your nominal income rises by 2.8 percent and your real income rises by 1.1 percent in some year, what is the (approximate) inflation rate? percent

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