Multiple Choice
Burger King is paying $8 an hour to its workers.If the expected inflation rate equals the actual inflation rate and both are 10 percent a year, then to keep the real wage rate constant in a year the money wage rate must
A) rise to $8.80 an hour.
B) fall to $7.20 an hour.
C) stay at $8.00 an hour.
D) rise to $8.10 an hour.
E) rise to $8.40 an hour.
Correct Answer:
Verified
Correct Answer:
Verified
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