SmartClutch39941 SmartClutch39941

08-05-2024
Business

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Assume that initially your nominal wage was $16 an hour and the price index was 100. If the price level increases to 105, then your
a. real wage has increased to $21.
b. real wage has decreased to $15.24.
c. nominal wage has increased to $21.
d. nominal wage has decreased to $15.24.

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