If Your Real Wage Rose but Your Nominal Wage Fell,this

question 142

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) inflation 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.

---

Definitions:

Minimum Age

The lowest legal age at which an individual is allowed to partake in certain activities or assume certain responsibilities, such as employment, voting, and driving.

Industrialized Societies

Societies characterized by a high level of technological development, industrial production, and urbanization, often accompanied by a shift from agricultural-based economies.

Traditional Societies

Societies that adhere to long-established customs, norms, and roles, often with a resistance to modern changes.

Bride Price

The required payment by the groom’s family to the bride’s family.