Multiple Choice
Which statement is correct?
A) The percentage change in the nominal wage plus the percentage change in the price level equals the percentage change in the real wage.
B) The percentage change in the real wage minus the percentage change in the price level equals the percentage change in the nominal wage.
C) The percentage change in the price level minus the percentage change in the nominal wage equals the percentage change in the real wage.
D) The percentage change in the nominal wage minus the percentage change in the price level equals the percentage change in real wage.
Correct Answer:
Verified
Correct Answer:
Verified
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