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If the Nominal Wages of Carpenters Rose by 3 Percent

Question 158

Multiple Choice

If the nominal wages of carpenters rose by 3 percent in 2019 and the price level decreased by 4 percent, then the real wages of carpenters

A) decreased by 1 percent.
B) increased by 7 percent.
C) increased by 1 percent.
D) increased by 4 percent.

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