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Suppose General Electric paid its line workers $12 per hour in 2017 when the Consumer Price Index was 100. Suppose that deflation occurred and the

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Suppose General Electric paid its line workers $12 per hour in 2017 when the Consumer Price Index was 100. Suppose that deflation occurred and the aggregate price level fell to 88 in 2018. Instructions: Round your answers to two decimal places. a. GE needed to pay its workers $ |:| in 2018 in order to keep the real wage fixed at $12. b. GE needed to pay its workers $ |:| in 2018 if it wanted to increase the real wage by 6 percent. c. If GE kept the wage xed at $12 per hour in 2018, in real terms, its workers got a |:| % increase in wages

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