Ben's nominal annual income in 2009 was $40,000. If the rate of inflation is constant at 10 percent, in order to keep Ben's real income constant, his nominal income in the year 2010 should be:
A. $50,000.
B. $44,000.
C. $40,000.
D. $36,000.
B. $44,000.
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Which of the following statements is true of the number of entrepreneurs in an economy?
A) The number of entrepreneurs is likely to be higher in an economy with inclusive institutions than in an economy with extractive institutions. B) The number of entrepreneurs is likely to be higher in a command economy than in a market economy. C) The number of entrepreneurs is likely to be the same in an economy with inclusive institutions and an economy with extractive institutions. D) The number of entrepreneurs is likely to be the same in a command economy and a market economy.
If additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be linear
Indicate whether the statement is true or false
Monetizing the debt is undesirable given its impact on ________
A) investment B) nominal income C) tariff rates D) prices
The majority of elementary and secondary school expenditures is financed by federal and state income taxes
Indicate whether the statement is true or false