Use the Following to Answer Questions

question 111

Multiple Choice

Use the following to answer questions .
Exhibit: Mechanics Hourly Wage and Price Indexes for 1975 and 2005

-(Exhibit: Mechanics Hourly Wage and Price Indexes for 1975 and 2005) Which of the following statements is true?

• A) Although the nominal wage increased, the real wage fell.
• B) Both the nominal and the real wage rose.
• C) Based on the values of the price index, real hourly wage doubled over the 30-year period.
• D) The purchasing power of the mechanic has slowly diminished over the years.

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Definitions:

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Heifetz

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