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.

---

Definitions:

Purchases Journal

A specialized accounting journal used to record all purchase transactions, typically for inventory or supplies.

Open Transaction

Any financial transaction that has been initiated but not yet completed or settled.

Customer Based

Customer based refers to a business strategy or perspective centered on understanding and addressing the needs, preferences, and behaviors of customers.

Confidential

Information meant to be kept secret or private from those not authorized to see it.