[Answer] 100. In Year 1 the price level was 120 and the average nominal income was $30 000. In Year 2 the price level was 125 and the average nominal level of income was $32 000. What happened to real income from Year 1 to Year 2?

Answer: C. It rose by $600
100. In Year 1 the price level was 120 and the average nominal income was $30 000. In Year 2 the price level was 125 and the average nominal level of income was $32 000. What happened to real income from Year 1 to Year 2?

The economy of Greece is the 51st largest in the world with a nominal gross domestic product (GDP) of $209.853 billion per annum. In terms of purchasing power parity Greece is the world’s 53rd largest economy at $348.349 billion per annum. As of 2019 Greece is the sixteenth-largest economy in the 27-member European Union. According to IMF figures for 2020 Greece’s GDP per capita was …

Economy of Pakistan Karachi the financial centre of Pakistan Currency Pakistani rupee (PKR ₨) Fixed exchange rates ₨ 100 (62¢ US) (Jan 2021) Fiscal year 1 July – 30 June Trade organisations ECO SAFTA WTO and others Country group Developing/Emerging Lower-middle income economy Statistics Population 212 480 000 (2021) GDP $284 billion ( nominal ; 2021) $ 1 . 1 trillion (PPP ; 2021) GDP …

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