Question

real income and deflating​

Answer 1

Step-by-step explanation:

• Real income is income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level.

deflating

• In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Deflation is distinct from disinflation, a slow-down in the inflation rate, i.e. when inflation declines to a lower rate but is still positive.