When the nominal price of a good increases over time,the real cost of buying the good
A) decreases because income also increases over time.
B) must increase.
C) might increase,decrease or stay the same depending on how much the CPI changed.
D) does not change because income also increases over time.
E) might increase,decrease or stay the same depending on how much income changed.
Correct Answer:
Verified
Q41: Suppose the CPI in 1983 is 100
Q42: The price of dishwashers has remained relatively
Q45: The difference between nominal and real is
A)
Q59: If prices have decreased since the base
Q60: A ham and cheese sandwich at the
Q94: If the average price of a barrel
Q95: To compare the real price of petrol
Q100: During this year,nominal GDP in Syldavia was
Q101: The real interest rate equals the
A)nominal interest
Q102: In 2008,Cameron began his career with HSBC.His
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents