If the Price Level Rises by 4 Percent in a Year

question 28

Multiple Choice

If the price level rises by 4 percent in a year and nominal wages increase by 2 percent, then real wages will

• A) decrease by 6 percent.
• B) decrease by 4 percent.
• C) decrease by 2 percent.
• D) increase by 2 percent.

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Definitions:

CPT Codes

Abbreviation for Current Procedural Terminology codes, which are numbers assigned to every task and service a medical practitioner may provide to a patient, including medical, surgical, and diagnostic services.

ICD Codes

International Classification of Diseases codes used for the standardized coding of diseases and health conditions for medical billing and epidemiology.

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Hyphenated Surnames

Surnames consisting of two separate names joined by a hyphen, often used to maintain both parents' family names.