If the Nominal Wage Is $30 in 2011 and the CPI

question 48

Multiple Choice

If the nominal wage is $30 in 2011 and the CPI is 202 in 2011, then the real wage in 1982-1984
Dollars

• A)is $29.00.
• B)is $14.85.
• C)is $1.48.
• D)is $30.
• E)cannot be calculated without the past year wage rate.

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