Question
Your wage this year is $15 per hour and the CPI is 172. Next year you get a raise to $16 and the CPI rises
Your wage this year is $15 per hour and the CPI is 172. Next year you get a raise to $16 and the CPI rises to 195. What has happened?
A. Your real and nominal wages have each increased by the same percentage.
B. Your nominal wage has increased but your real wage has declined.
C. Your nominal wage has increased but your real wage has not changed.
D. Your real wage has increased by a larger percentage than your nominal wage.
E. Your real wage has increased but by a smaller percentage than your nominal wage.
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Justice In A Global Economy Strategies For Home, Community, And World
Authors: Rebecca Todd Peters, Pamela K Brubaker, Laura A Stivers
1st Edition
0664229557, 9780664229559
