If the Nominal Wage Is $30 in 2015 and the CPI

question 131

Multiple Choice

If the nominal wage is $30 in 2015 and the CPI is 202 in 2015,then the real wage in the base year

• A)is $29.00.
• B)is $14.85.
• C)is $1.48.
• D)is $30.
• E)cannot be calculated without the past year wage rate.

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Definitions:

Cognitive Dissonance

A psychological phenomenon involving discomfort experienced by an individual who holds contradictory beliefs, ideas, or values at the same time.

Peripheral Route Persuasion

A method of persuasion that relies on superficial cues rather than on the content of the message, such as the attractiveness of the speaker or emotional appeal.

Attributions

Attributions refer to the process by which individuals infer the causes of their own and others' behavior.

Central Route Persuasion

A method of persuasion that involves deeply processing the content of a message, considering logical arguments and evidence.