Sue's employer increases her salary each year at a rate that is 1.5 times the going...
Sue's employer increases her salary each year at a rate that is 1.5 times the going rate of inflation. Each year Sue’s real salary ______ and she feels like she can buy a _____ quantity of goods and services.
increases : smaller
increases : larger
decreases : larger
decreases : smaller
Homework Answers
Increases, larger
Explanation: Real income is the difference between nominal income and inflation rate. When the nominal income increases faster than inflation rate, the real income rises. This increases purchasing power.
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