Multiple Choice
The nominal wage is $40 an hour and the price level as measured by a price index is 2.00.If the nominal wage falls to $30 and the price index declines to 1.50,according to the worker misperception explanation of the upward-sloping SRAS curve,workers will initially perceive the
A) real wage as something greater than $20.
B) real wage as something less than $20.
C) real wage as $20.
D) nominal wage as something more than $30.
E) nominal wage as something less than $30.
Correct Answer:
Verified
Correct Answer:
Verified
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