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Use the information for Economy X in the table to answer the question below. Year CPI 2015 640.4 2016 648.3 2017 659.2 2018 671.4 2019

Use the information for Economy X in the table to answer the question below. Year CPI 2015 640.4 2016 648.3 2017 659.2 2018 671.4 2019 682.4 An employee in Economy X received a pay increase of 2% in 2017. Which of the following statements is correct? The employee's nominal pay increased and the real pay increased. The employee's nominal pay increased but the real pay decreased The employee's nominal pay decreased and the real pay decreased The employee's nominal pay decreased but the real pay increased

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