Suppose That Over the Course of a Year,one's Wage Increases

question 137

Multiple Choice

Suppose that over the course of a year,one's wage increases from $15 per hour to $16.50 per hour.If the inflation rate for the year is 12 percent,then the

• A)real wage has increased by 22 percent.
• B)nominal wage has increased by 2 percent.
• C)real wage has increased by 2 percent.
• D)real wage has fallen by 2 percent.
• E)nominal wage has increased by 15 percent.

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Definitions:

Top Priority

Refers to the most important issue, task, or objective that requires immediate attention and resources above all others.

Subcultures

Groups in an organization who share different values to those held by the majority.

Organization

A structured group of people working together to achieve common goals or objectives through a division of labor and a hierarchy of authority.

Different Values

Varied beliefs or principles that individuals or groups consider important, influencing their actions and decisions.