Question 3

If salary of worker increases from 50,000 Naira to 80,000 Naira and average price of certain commodities consumed by the worker increase from 120 Naira to 160 Naira then

  • A.The nominal income increases but leave the real income constant
  • B.The real income increases, but nominal income has reduced
  • C.The real income increases, but real income decreases
  • D.Both the nominal and real income increase
Objective

Question details

Exam body
OAU
Subject
Economics
Year
2013/2014
Question no.
#3
Type
Objective

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