4% Dashboard - Antelope Valley C Homewark (Ch 13) MindTap - Cengage Learning [ R CENGAGE ' MINDTAP Q 0 b4 Homework (Ch 13) Back to Assignment Attempts Keep the Highest / 3 m @ > 5. Real wages, nominal wages, and unexpected changes in the price level = Maria currently earns a wage of $12.00 per hour; in other words, the amount of her paycheck each week is $12.00 per hour times the = number of hours she works. Suppose the price of apple juice is $2.00 per gallon; in this case, Maria's = wage, in terms of the amount of apple juice she can buy with her paycheck,is[ | gallons of apple juice per hour. When workers and firms negotiate compensation packages, they have expectations about the price level (and changes in the price level) and agree on a wage with those expectations in mind. If the price level turns out to be lower than expected, a worker's v wageis S W than both the worker and employer expected when they agreed to the wage.