Your Nominal Wage Increases from $12 Per Hour to $13

question 95

Multiple Choice

Your nominal wage increases from $12 per hour to $13 per hour.At the same time,the price level increases from 140 to 147.As a result,

• A)The number of dollars you receive increases and the purchasing power of the dollars you receive increases.
• B)The number of dollars you receive increases and the purchasing power of the dollars you receive decreases.
• C)The number of dollars you receive decreases and the purchasing power of the dollars you receive increases.
• D)The number of dollars you receive decreases and the purchasing power of the dollars you receive decreases.

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Definitions:

Private Practice

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