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Last year, Jane spent all of her income to purchase 200 units of corn at $5 per unit. This year, she spent all of her income to purchase 180 units of corn at $6 per unit

Jane's nominal income increased this year, but her real income decreased

Respuesta :

In the situation given above, it can be concluded that the nominal income of Jane increased during the current year, but her real income has been led with a decrease.

The real income of an individual can be referred to or considered as the total amount of earnings made by an individual during a given financial period, which is also subjected to have adjusted with the current levels of inflation in the prevailing economic conditions. Real income can either be more or less than the actual or nominal income of the individual, depending upon the change in the rates of inflation.

Learn more about the real income here:

https://brainly.com/question/17094716

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