If Workers Received a 5 Percent Wage Increase and the Rate

question 101

Multiple Choice

If workers received a 5 percent wage increase and the rate of inflation was 3 percent, then their real wage:

• A)increased.
• B)decreased.
• C)remained constant.
• D)equaled the nominal wage.

---

Definitions:

Intellectual Accomplishment

Achievements or contributions that have significant impact on the fields of knowledge, culture, or thought through intellectual endeavor.

Biologically Determined

Refers to traits, behaviors, or conditions influenced by genetic makeup rather than environmental factors.

Culturally Determined

Influenced or shaped by the customs, beliefs, and social values of a particular society or group.

Age-Related Decline

The natural decrease in physical, cognitive, and psychological function that occurs as individuals grow older.