Multiple Choice
Suppose the nominal wages of workers in an economy increase by 7 percent while the price level rises by 5 percent.The real wages:
A) would increase by about 2 percent.
B) would decrease by about 5 percent.
C) would increase by about 50 percent.
D) would increase by about 10 percent.
E) would decrease by about 25 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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