Use the following table to answer the next question.YearNominal Income (dollars)CPIReal Income (dollars)1$44,600130 2$48,200 $35,1833$51,000139 What is the percentage change in real income from Year 2 to Year 3?

A. 4.3%
B. 0.04%
C. 5.8%
D. 0.06%


Answer: A

Economics

You might also like to view...

Alice is willing to pay $3 for the second slice of pizza she eats. The price she pays is $2. Alice's consumer surplus for this slice of pizza equals

A) $0. B) $1. C) $2. D) $3.

Economics

The demand for organically grown food is

A) increasing. B) decreasing. C) stagnant. D) unpredictable.

Economics

A person obtains income by selling the services of the resources that he or she owns

a. True b. False Indicate whether the statement is true or false

Economics

The desire of a consumer to purchase one more unit of a product is known as ______.

a. marginal production cost b. marginal willingness to pay c. deadweight loss d. producer surplus

Economics