Which of the Following Is True About Real and Nominal

question 169

Multiple Choice

Which of the following is true about real and nominal wages?

• A)The nominal wage will be constant only if the inflation rate is constant.
• B)The real wage will be constant only if the inflation rate is constant.
• C)Changes in the nominal wage will be the same as changes in the real wage only if the price level is constant.
• D)The real wage will be constant only if the price level is constant.
• E)The real wage will be constant only if the nominal wage is constant.

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Definitions:

Altruism

The selfless concern for the well-being of others, often leading to actions for their benefit without personal gain.

Deindividuation

A psychological state characterized by reduced self-awareness and diminished social identity, leading to uninhibited and impulsive behavior, often in group settings.

Bystander Effect

A social psychological phenomenon where individuals are less likely to offer help to a victim when other people are present, often due to the diffusion of responsibility.

Just-world Phenomenon

The belief that the world is fundamentally fair, leading people to rationalize an unjust situation as deserved by the victim.