What must have been the rate of inflation

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Reference no: EM131001911

If your nominal income rose by 5.3 percent and the price level rose by 4.8 percent in some year, by what percentage would your real income (approximately) increase?

Instruction: Round your answer to one decimal place.___________%

If your nominal income rose by 2.8 percent and your real income rose by .9 percent in some year, what must have been the (approximate) rate of inflation?

Instruction: Round your answers to one decimal place.__________%

Reference no: EM131001911

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