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If a worker received a nominal wage increase of 3% but notices the CPI has risen from 150 to 162 during the last month, they
If a worker received a nominal wage increase of 3% but notices the CPI has risen from 150 to 162 during the last month, they should...
a. move to a state with a higher unemployment rate than their own
b. be really happy because they just received a 17% raise in real terms
c. be really happy because they just received a 5% raise in real terms
d. ask for 5% more to keep up with inflation
e. ask for 12% more to keep up with inflation
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