During a given year the nominal national income increased by 14 per cent while the real
national income increased by only 6 per cent.”
What has caused the difference between nominal income and real income? Comment with
reason
Answers
Answered by
2
Answer:
during a given year nominal national income increased by 14% while the real national income increased by only 6%. Popoulatiion incresed by 2%. ... From this, you can infer that the difference between the nominal and the real income is due to price level.
Similar questions