For a person to keep his real income steady at a certain level from one year to the next, his nominal income must:
CA Foundation · Business Economics · MTP · June 2024
For a person to keep his real income steady at a certain level from one year to the next, his nominal income must:
Suggested Answer and Working Notes:
Correct Answer: Option (B)
B. Rise as fast as the price index
Topics: Determination of National Income
Related Questions in this Topic
- In the four-sector Keynesian model, the equilibrium income condition is:
- If, in the four-sector model, aggregate consumption and taxes are greater than aggregate income, it indicates that:
- Government of India recently launched ‘Make in India' programme. What will be its impact on Aggregate Demand of India?
- Which concept of national income best reflects economic welfare?
- Mixed income of self-employed includes: