If the Nominal Wages of Carpenters Rose by 1 Percent

question 84

Multiple Choice

If the nominal wages of carpenters rose by 1 percent in 2019 and the price level increased by 4 percent, then the real wages of carpenters

• A)decreased by 4 percent.
• B)decreased by 3 percent.
• C)increased by 3 percent.
• D)increased by 5 percent.

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Definitions:

Oxidation-reduction

Chemical reactions involving the transfer of electrons from one substance to another, affecting the oxidation state of the involved species.

Precipitation Reaction

A precipitation reaction is a chemical reaction in which soluble ions in separate solutions react to form an insoluble compound that settles out of solution as a solid precipitate.

Limiting Reactant

The limiting reactant is the substance in a chemical reaction that is completely consumed first, thereby determining the maximum amount of product that can be formed.

Wax

A diverse class of organic compounds that are malleable at slightly higher temperatures than room temperature and mainly consist of hydrocarbons.