In 2009 you were paid 50000 by your employer your only, Ask an Expert

Economics

In 2009, you were paid $50,000 by your employer (your only source of income). In 2010, you were paid $55,000, but the rate of inflation between the two years was 15%. Which of the following is true?

A. Your real income went up but your nominal income went down.

B. Your real income went up but your nominal income remained the same.

C. Your nominal income went up but your real income went down.

D. Your nominal income went up but your real income remained the same.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92199421

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