If real income increases while nominal income remains the...
If real income increases while nominal income remains the same, it can be inferred that
Unemployment rate has decreased
General prices has fallen
Employment rate has risen
General prices have risen
Correct answer is B
To better understand this, we need to know what real and nominal income is all about.
Nominal value is measured in terms of money, whereas real value is measured against the purchasing power of money for goods or services. If real income increases while nominal income remains the same, it means that the price of goods and services has fallen. This invariably means the purchasing power of money has increased.
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