Multiple Choice
If your nominal wage rises but you think that it automatically means your real wage rose,then:
A) you are suffering from money illusion.
B) you are experiencing the substitution effect.
C) you are suffering from the heterogeneity illusion effect.
D) you are experiencing the income effect.
E) you are suffering from the price confusion problem.
Correct Answer:
Verified
Correct Answer:
Verified
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