Complete each of the following sentences:

a. The _________ wage measures the wage in dollars of the year in question, while the ________ wage measures it in constant dollars.

b. Wage agreements are based on the ________ price level and negotiated in ________ terms. Real wages are then determined by the ________ price level.

c. The higher the actual price level, the _________ is the real wage for a given nominal wage.

d. If nominal wages are growing at 2 percent per year while the annual inflation rate is 3 percent, then real wages change by _________.