Page 1: Previous Page Next Page. Page 11 of 30 1 Question 11 (3 points) Page 2: In the last year, according to the BLS, average hourly compensation increased about 5%, while the CPI increased more than 6%. For a worker who got an average raise 2 and consumes the typical market basket, what does this tell us about nominal and real wages? Page 3: ( a) Both nominal and real wages decreased. 3 O b) Nominal wages increased but real wages decreased. Page 4: O c) Real wages increased but nominal wages decreased. 4 O d) Both nominal and real wages increased. Page 5: Page 11 of 30 Previous Page Next Page DD A