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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?Did it increase or decrease and by how much? Round your answer to 2 decimal places.

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