$2020$ is the CPIQuestion $48(3$ points$)$

$2020$ is the CPI base year and the $2024\frac{C}{P}$I $=105$

If you receive a pay raise of $3\%,$ which of the following is correct

a $2\%$ nominal wage decrease

a $3\%$ nominal wage decrease

a $2\%$ real wage decrease

a $5\%$ real wage increase

Both A and C are correct

Both B and C are correct