ztomblin5242 ztomblin5242

07-03-2020
Business

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If your nominal wage rises but you think that it automatically means your real wage rose, then:a.you are suffering from money illusion.b.you are experiencing the substitution effect.c.you are suffering from the heterogeneity illusion effect.d.you are experiencing the income effect.e.you are suffering from the price confusion problem

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akindelemf akindelemf

07-03-2020

Answer:

If your nominal wage rises but you think that it automatically means your real wage rose, then you are suffering from money illusion.

Explanation:

In money illusion, one thinks money is nominal rather than real.

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