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.
A downward sloping demand curve means that ...
In a socialist economy, prices of commodities are determined by ...
Industry can be defined as ...
The ownership of a public limited liability company is made up of ...
Which of the following activities will not lead to economic growth? ...
Foreign exchange control in most West African countries is enforced by the ...
Which of the following is not an advantage of localization of industries? ...
The family Support Programme in Nigeria essentially focuses on ...
In the normal channels of distribution the breaking of bulk is performed by the ...
Population Statistics of a Country. The dependency ratio between 1960 and 1990 is ...