Table 13-16 -Refer to Table 13-16

question 154

Multiple Choice

Table 13-16
$\begin{array}{|c|c|c|}\hline \text { Year } & \begin{array}{c}\text { Nominal Average } \\\text { Hourly Earnings }\end{array} & \text { CPI } \\\hline 2016 & \$ 10 & 100 \\\hline 2017 & 10 & 105 \\\hline 2018 & 12 & 110 \\\hline\end{array}$
-Refer to Table 13-16.Looking at the table above,real wages ________ from 2016 to 2017,and real wages ________ from 2017 to 2018.

• A) rose; rose
• B) rose; fell
• C) fell; rose
• D) fell; fell

---

Definitions:

Consideration

A concept in contract law that refers to something of value that is exchanged between parties to a contract, making the agreement legally binding.

Charitable Pledge

A commitment to donate a specific sum of money to a charitable organization, often payable over a certain period.

Past Consideration

A term used in contract law that refers to an act or benefit given in the past, which cannot be used as consideration for a current contract.

Promissory Estoppel

A legal principle that prevents a promisor from withdrawing a promise that a promisee has relied upon.