Suppose You Received a 4 Percent Increase in Your Nominal

question 58

Multiple Choice

Suppose you received a 4 percent increase in your nominal wage.Over the year,inflation runs about 7 percent.Which of the following is true?

• A)Your real wage increased.
• B)Both the nominal and real wages increased.
• 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.

---

Definitions:

Contest

A competition where individuals or teams vie for superiority or a prize in a specific area.

Success

The achievement of a set goal, standard, or objective, commonly measured by factors such as profitability, achievement of objectives, or personal fulfillment.

Goodie Bags

Packages filled with gifts, promotional items, or samples, often given to attendees at events or customers as a gesture of appreciation.

Sternberg

A psychologist known for his triarchic theory of intelligence, which categorizes human intelligence into analytical, creative, and practical dimensions.