If the Nominal Wage Is $24 Per Hour and the Price

question 174

Multiple Choice

If the nominal wage is $24 per hour and the price level (as measured by a price index) is 8,it follows that the real wage is _________ per hour.

• A) $24.00
• B) $6.00
• C) $3.00
• D) $16.00
• E) $4.00

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