Question

Define Changes in Income

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Answer 1

Answer:

Changes in real income can result from nominal income changes, price changes, or currency fluctuations. When nominal income increases without any change to prices, this makes consumers able to purchase more goods at the same price, and for most goods consumers will demand more.

Explanation:

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Answer 2

Answer:

Changes in real income can result from nominal income changes, price changes, or currency fluctuations. When nominal income increases without any change to prices, this makes consumers able to purchase more goods at the same price, and for most goods consumers will demand more.

Explanation:

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