The Nominal Annual Wage Increases from $20,000 to $21,000, While

question 176

Multiple Choice

The nominal annual wage increases from $20,000 to $21,000, while the price level increases by 7 percent. In this case, the percentage change in the real annual wage is about

• A) −1 percent.
• B) −2 percent.
• C) 3 percent.
• D) 5 percent.

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Definitions:

External Parties

Individuals or organizations outside of an organization who can be affected by its activities or who can impact the organization's performance.

Open Innovation

A business model that encourages companies to both use external ideas and inventions in their own business practices and allow their unused internal ideas to be used by other organizations.

External Sources

Information, resources, or support obtained from outside an organization or individual's immediate environment.

External Sources

Information, support, or materials obtained from outside an individual's immediate environment or organization.