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If the Nominal Wages of Carpenters Rose by 5 Percent

Question 25

Multiple Choice

If the nominal wages of carpenters rose by 5 percent in 2019 and the price level increased by 3 percent, then the real wages of carpenters

A) decreased by 2 percent.
B) increased by 2 percent.
C) increased by 3 percent.
D) increased by 8 percent.

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