Assume That Your Nominal Wage Was Fixed at $15 an Hour

question 4

Multiple Choice

Assume that your nominal wage was fixed at $15 an hour, and the price index rose from 100 to 105. In this case, your real wage has

• A)decreased to $10.
• B)increased to $15.75.
• C)decreased to $14.29.
• D)increased to $20.

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