Business, 24.03.2020 18:03, oldless504

In year 1, the Consumer Price Index was 120 and the average nominal income was $30,000. In year 2, the Consumer Price Index was 125 and the average nominal level of income was $32,000. What happened to real income from year 1 to year 2?

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In year 1, the Consumer Price Index was 120 and the average nominal income was $30,000. In year 2, t...