If the Nominal Wages of Carpenters Rose by 5 Percent

question 25

Multiple Choice

If the nominal wages of carpenters rose by 5 percent in 2019 and the price level increased by 3 percent, then the real wages of carpenters

• A)decreased by 2 percent.
• B)increased by 2 percent.
• C)increased by 3 percent.
• D)increased by 8 percent.

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Definitions:

Organizational Resources

The assets, capabilities, processes, information, and knowledge that an organization controls and can use to accomplish its goals and objectives.

Business Strategies

Comprehensive plans and actions that guide businesses in achieving their goals, responding to competitive environments, and fulfilling market demands.

Corporate Strategies

The comprehensive approaches that businesses adopt to achieve their long-term objectives and secure a competitive advantage.

Single-product Enterprises

Businesses that focus on the production, promotion, and sale of a single type of product.