Megan currently earns anominal 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 orange juice is $2.40 per gallon; in this case, Megan'sreal wage, in terms of the amount of orange juice she can buy with her paycheck, is 5 gallons of orange juice per hour. When workers and firms negotiate compensation packages, they have expectations about the price level (and changes in the price level) a