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Loraine Loraine
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Your wage this year is $15 per hour and the CPI is 178. Next year you get a raise to $17 and the CPI rises to 185. What has happened?
A) Your real wage has increased but by a smaller percentage than your nominal wage.
B) Your nominal wage has increased but your real wage has declined.
C) Your real wage rate has increased by a larger percentage than your nominal wage.
D) Your real and nominal wages have each increased by the same percentage.
E) Your nominal wage has increased but your real wage has not changed.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46Chimelo46
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