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Real Income
From ZuluNotes - Free Leaving Cert Notes
| Real Income | |
|---|---|
| |
| This is an Economics definition | |
| It is found mainly in the National Income and The Consumer section | |
| Level | H/O |
Real Income is Nominal Income adjusted for inflation. It gives a better indication of purchasing power as it takes into account the prices of the goods to be bought as well as the income of the consumers.
