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MMLU / If the consumer price index (CPI) increases by 2 percent and your nominal income…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

If the consumer price index (CPI) increases by 2 percent and your nominal income increases by 8 percent your real income has approximately

choices

  1. increased by 4 percent.
  2. decreased by 4 percent.
  3. increased by 6 percent.
  4. decreased by 6 percent.

subject

high_school_macroeconomics

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Official source

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