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Assume that the nominal wage rate increases from $16 to $19.00 per hour and, at the same time, the price index increases from 112 to

Assume that the nominal wage rate increases from $16 to $19.00 per hour and, at the same time, the price index increases from 112 to 122. By how much has the real wage rate changed?Round your answer to 2 decimal places.

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