An increase in nominal income without increase in price w...
An increase in nominal income without increase in price will result to
Increased real income
Increased GDP
Decreased real income
Decreased GNP
Correct answer is A
When nominal income increases without any change to prices, this means consumers can purchase more goods at the same price, and for most goods, consumers will demand more.
The three broad categories of production are ...
The following except ONE, are the differences between international trade and internal trade ...
The major determinant of cross elasticity of demand is the ...
Which of the following is an important limiting factor in the application of division of labour? ...
Which of the following is true about import substitution? It ...
Which of the following set of statistical tools is used for further economic analysis? ...