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Your brother came home last night feeling happy because his latest wage rise resulted in an increase in his real wage. Explain how it occurred

  1. Your brother came home last night feeling happy because his latest wage rise resulted in an increase in his real wage. Explain how it occurred by using the concepts of real income, nominal income, anticipated and unanticipated inflation rate.
  2. A news article stated that both the unemployment rate and the labour force participation rate increased by 0.25 and 0.4 percent respectively. Is this positive news for the economy? Explain.

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