Suppose that a person's nominal income rises from $10 000 to $11 000 and the consumer price index rises from 100 to 105.The person's real income will:
A)fall by about 5 percent
B)fall by about 1 percent
C)rise by about 5 percent
D)rise by about 10 percent
E)rise by about 1 percent

Question

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The Answer of Suppose that a person's nominal income rises from $10 000 to $11 000 and the consumer price index rises from 100 to 105.The person's real income will:
A)fall by about 5 percent
B)fall by about 1 percent
C)rise by about 5 percent
D)rise by about 10 percent
E)rise by about 1 percent

Suppose That a Person's Nominal Income Rises from $10 000