A labor contract provides for a firstyear wage of $15 per hour, and specifies that the real wage will rise by 2 percent in the second year ofthe contract. The CPI is 100 in the first year and 1.09 in the second year. What dollar wage must be paid in the second year? Multiple Choice 0 $15.30 $16.09 $16.68 0 0 $16.45 G On January 1, 2018, Anna invested $5,000 at 5 percent interest for one year. The CPI on January 1, 2018 stood at 2.37. On January 1, 2019, the CPI was 2.40. The real rate of interest earned by Anna was percent. Multiple Choice O -5 O 3.7 O 5 O 9The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2019, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon. In 2020, the price of pizzas increased to $14 each, while the price of jeans and milk remained the same. Between 2019 and 2020, a typical family's cost of living Multiple Choice O increased by 9 percent. O decreased by 9 percent. O remained the same. O increased by 40 percent.A labor contract provides for a firstyear wage of $10 per hour, and specifies that the real wage will rise by 3 percent in the second year of the contract. The CPI is 1400 in the first year and 1.07 in the second year. What dollar wage must be paid in the second year? Multiple Choice 0 $10.30 $10.70 $11.02 0 0 $10.90 0 The price of a gallon of gasoline at the pump increased by 5 percent at the same time that the inflation rate was also 5 percent. The nominal price of gasoline , and the real price of gasoline Multiple Choice 0 did not change; increased 0 did not change; did not change O increased; did not change 0 increased; decreased