If the Nominal Wage Is $24 Per Hour and the Price

question 174

Multiple Choice

If the nominal wage is $24 per hour and the price level (as measured by a price index) is 8,it follows that the real wage is _________ per hour.

• A) $24.00
• B) $6.00
• C) $3.00
• D) $16.00
• E) $4.00

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Definitions:

Y Sex Chromosome

One of the two sex chromosomes, X and Y, that determine genetic sex in mammals; the presence of a Y chromosome generally leads to male development.

Genetic Code

The set of rules by which information encoded in genetic material (DNA or mRNA sequences) is translated into proteins by living cells.

Ovaries

Female reproductive organs that produce eggs and hormones, including estrogen and progesterone.

Testes

The male reproductive organs that produce sperm and hormones, including testosterone.