Multiple Choice
If the nominal wages of carpenters rose by 5 percent in 2013 and the price level increased by 3 percent, then the real wages of carpenters
A) decreased by 2 percent.
B) increased by 2 percent.
C) increased by 3 percent.
D) increased by 8 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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