Posted: January 22nd, 2016

If real income has risen from $4 trillion to $4.2 trillion and the price level went up by 10 percent, by how much has the nominal income risen?

If real income has risen from $4 trillion to $4.2 trillion and the price level went up
by 10 percent, by how much has the nominal income risen?
a $440 billion
b $400 billion
c $360 billion
d none of the above

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