If the Nominal Wages of Carpenters Rose by 3 Percent

question 158

Multiple Choice

If the nominal wages of carpenters rose by 3 percent in 2019 and the price level decreased by 4 percent, then the real wages of carpenters

• A)decreased by 1 percent.
• B)increased by 7 percent.
• C)increased by 1 percent.
• D)increased by 4 percent.

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Definitions:

Short, Wide Glass

A container for liquids that is notably lower in height but broader in width, affecting the perception of content volume.

Soda

A sweet, carbonated beverage, often flavored and containing caffeine and other additives.

Curse Of Knowledge

A cognitive bias that occurs when an individual, knowing something, finds it hard to think about the subject from the perspective of someone less knowledgeable.

Susceptibility

The likelihood or tendency to be influenced or harmed by a particular thing or condition.