The real value of income is:
A) the amount of goods and services that it will buy.
B) the dollar amount of the income.
C) the same as the nominal value of income.
D) usually higher than the nominal value of income.

Question

Quizplus · Accepted Answer

The real value of income refers to the purchasing power of income, i.e., the amount of goods and services that it can buy, rather than its nominal dollar amount.

The Real Value of Income Is