Assume That Your Nominal Wage Was Fixed at $12 an Hour

question 106

Multiple Choice

Assume that your nominal wage was fixed at $12 an hour, and the price index rose from 102 to 105. In this case, your real wage has

• A)decreased to $11.76.
• B)increased to $11.76.
• C)decreased to $11.43.
• D)increased to $11.43.

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Definitions:

Diverse Causes

This term implies a range of different factors or reasons that contribute to a particular situation or outcome.

Simulation Process

A technique for modeling the operation of a real-world process or system over time, often used for analysis or training purposes.

HR Demand

Refers to the number and type of employees an organization needs to meet its current and future goals.

Forecasting

Estimation of future occurrences or trends using statistical methods and historical data.