Which of the Following Statements About the Nominal and Real

question 6

Multiple Choice

Which of the following statements about the nominal and real wage rates is correct?

• A) The nominal wage rate is measured in the dollars of a base year.
• B) The real wage rate indicates how many goods and services can be purchased with an hour's labour.
• C) The nominal wage rate equals the real wage rate divided by the CPI and then multiplied by 100.
• D) The real wage rate is measured in current year dollars.
• E) The real wage rate equals the nominal wage rate multiplied by the CPI then divided by 100.

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