Suppose That Colleen's Nominal Wage Rate Was $20 Per Hour

question 18

Multiple Choice

Suppose that Colleen's nominal wage rate was $20 per hour in 1998,the base year for the CPI.If the CPI in 2003 was 120.0 and her nominal wage had risen to $22 per hour,what was her real wage in 2003?

• A) $16.67
• B) $18.33
• C) $22.00
• D) $26.40
• E) her real wage for 2003 cannot be determined with the information given

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Definitions:

Without Uttering

The act of conveying a message or expressing oneself without the use of spoken words.

Adaptive Selling

Salespersons’ ability to adjust and modify their behaviors to better align with their customers’ needs.

Modify

To make changes or alterations to something, often to improve it or to adapt it to different conditions.

Unspoken Message

Communication conveyed through non-verbal cues such as body language, tone of voice, or facial expressions, rather than spoken words.