Science, asked by Debangana1966, 1 year ago

What is meant by real income?

Answers

Answered by vijaychauhan748591

0

Explanation:

Real income is income of individuals or nations after adjusting for inflation. It is calculated by dividing nominal income by the price level. ... Therefore, real income is a more useful indicator of well-being since it measures the amount of goods and services that can be purchased with the income.

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