Last year, Tatum's nominal income rose by 4.6 percent and the price level rose by 1.6 percent. We can conclude that last year Tatum's real income may have either increased or decreased. It rose by approximately 6.2 percent. It rose by approximately 3 percent. It fell by approximately 13 percent.
1) may have either increased or decreased
2) rose by approximately 6.2 percent
3) rose by approximately 3 percent
4) fell by approximately 13 percent
