If the "nominal price" of a good has risen by 10 percent over a period of time, its relative price must also have risen.

Question

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The nominal price is the price of a good in terms of money, without adjustment for inflation. The relative price is the price of a good in terms of another good or goods. A rise in nominal price does not necessarily mean the relative price has risen, as other goods' prices or the general price level (inflation) could have also changed.

If the "Nominal Price" of a Good Has Risen by 10