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The Real Wage in Fantasyland Has Been Constant Since 1950

Question 65

Multiple Choice

The real wage in Fantasyland has been constant since 1950.The nominal wage in 2015 was $100,and the Consumer Price Index (CPI) was 200 in 2015.What was the nominal wage in 2002 if the CPI was 50 in 2002?


A) Nominal wage = $25
B) Nominal wage = $400
C) Nominal wage = $100
D) Nominal wage = $250

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