If You Received a 4 Percent Increase in Your Nominal

question 42

True/False

If you received a 4 percent increase in your nominal wage and the price level increased by 6 percent, then your real wage has increased by 2 percent.

---

Definitions:

Developing Capabilities

Refers to the processes involved in enhancing the skills, competencies, and abilities of individuals or organizations.

Job Performance

The level of effectiveness and efficiency with which an employee fulfills their job responsibilities and tasks.

Happy Workers

Employees who experience positivity, satisfaction, and well-being in their workplace, contributing to higher productivity and retention.

Productive Workers

Employees who are efficient and effective in their work, contributing significantly to the organization's goals.