Multiple Choice
ABC news in Australia reported that the average annual wage in 2008 was $13,308. To calculate the real wage rate in Australia, you would need to know
A) Australia's price level in 2008.
B) Australia's inflation rate between 2007 and 2008.
C) the core inflation rate in Australia in 2008.
D) the exchange rate between the US dollar and the Australian dollar.
Correct Answer:
Verified
Correct Answer:
Verified
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