Multiple Choice
If your real wage rose but your nominal wage fell,this would imply that:
A) inflation is positive but less than the rate of increase in your wage.
B) deflation has occurred.
C) your boss took some of your wages illegally.
D) the overall price level has fallen more than your nominal wage.
E) housing prices have fallen and because you own a house, it reduces the value of your real wage.
Correct Answer:
Verified
Correct Answer:
Verified
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