If the Nominal Wages of Carpenters Rose by 5 Percent

question 56

Multiple Choice

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

• A)decreased by 2 percent.
• B)increased by 8 percent.
• C)increased by 2 percent.
• D)increased by 5 percent.

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Definitions:

Physical Isolation

A state of being separated from other people or societies, which can be due to geographic, social, or psychological barriers.

Anglicization

The process by which societies adopt English culture, language, or institutions, often observed in colonies of the British Empire.

British Culture

The customs, traditions, and social behaviors of the people of the United Kingdom, encompassing literature, music, arts, and historical values.