Suppose You Received a 5 Percent Increase in Your Nominal

question 14

Multiple Choice

Suppose you received a 5 percent increase in your nominal wage.Over the year,inflation ran about 2 percent.Which of the following is true?

• A)Your real wage increased.
• B)Your nominal wage decreased.
• C)Both your nominal and real wages decreased.
• D)Although your nominal wage fell,your real wage increased.
• E)Although your nominal wage rose,your real wage decreased.

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Definitions:

Operational Excellence

A philosophy of the workplace where problem-solving, teamwork, and leadership results in the ongoing improvement in an organization.

Customer Intimacy

A business strategy focused on building strong relationships with customers by deeply understanding and satisfying their needs, often leading to higher customer loyalty and retention.

Delivery Cycle Time

The elapsed time from when a customer order is received until the finished goods are shipped.

Performance Measure

A quantifiable indicator used to evaluate the efficiency, performance, or success of an organization, employee, or process in achieving objectives.