Multiple Choice
Suppose Corrine received a 3 percent increase in her nominal wage.Over the year, inflation ran about 6 percent.Which of the following describes how Corrine's nominal and real wages were affected?
A) Corrine's nominal wage increased and her real wage decreased.
B) Corrine's nominal wage decreased and her real wage increased.
C) Corrine's nominal wage decreased and her real wage decreased.
D) Corrine's nominal wage increased and her real wage increased.
Correct Answer:
Verified
Correct Answer:
Verified
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