Multiple Choice
If the percentage increase in nominal wage rates is less than the percentage increase in the price level, then:
A) real wage rate rises and the unemployment rate falls.
B) both real wage rate and the unemployment rate rises.
C) both real wage rate and the unemployment rate falls.
D) real wage rate rises and the unemployment rate remains unchanged.
E) both real wage rate and the unemployment rate remains unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
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