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Nominal Monthly Wages Increase from $1,200 to $1,300, While the Price

Question 117

Multiple Choice

Nominal monthly wages increase from $1,200 to $1,300, while the price level decreases by 2 percent. The percentage change in real monthly wages is about


A) 2 percent.
B) -2 percent.
C) 8.3 percent.
D) 10.3 percent.

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