The price of a gallon of gasoline at the pump increased by 10 percent at the same time that the inflation rate was 15 percent. The nominal price of gasoline _ and the real price of gasoline _.

Since the current selling price of a gallon of gasoline increased by 10%, coupled with a 15% inflation rate, there is a shift in the real value of gasolin in terms of some other goods (relative price). Therefore there's is a decrease in it's real prices. The nominal price is the money value. It thus increase due to the inflation and increase in selling price

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The price of a gallon of gasoline at the pump increased by 10 percent at the same time that the inflation rate was 15 percent. The nominal price of gasoline _____ and the real price of gasoline _____.

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The price of a gallon of gasoline at the pump increased by 10 percent at the same time that the inflation rate was 15 percent. The nominal price of gasoline _ and the real price of gasoline _.