Multiple Choice
Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes
A) your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased.
B) your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage decreased.
C) your real wage increase. If your real wage rose by a greater percentage than the price level, then your nominal wage also increased.
D) your real wage decrease. If your real wage rose by a greater percentage than the price level, then your nominal wage decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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