ake Test: Quiz 1o Test: Quiz 10 Test Information escription nstructions Timed Te

Question

ake Test: Quiz 1o Test: Quiz 10 Test Information escription nstructions Timed Test Respondus This test has a time limit of 30 minutes. This test will save and submit automatically when the time expires Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain. Multiple Attempts This test allows 3 attempts. This is attempt number 1. Force Completion Once started, this test must be completed in one sitting. Do not leave the test before clicking Save and Submit Remaining Time: 18 minutes, 50 seconds. w Question Completion Status: Question 6 of 10 & Moving to another question will save this response stion 6 Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes 10 points Save Answ age rose by a greater percentage than the price level, then your real wage also increased your nominal wage increase. If your nominal w O your nominal wage increase. If your nominal wage rose by a greater percentage your real wage increase if your real age rose by a greater percentage than the price level, then your nom nal age also your real wage decrease. If your real wage rose by a greater percentage than the price level, then your nominal wage decreased. than the price level, then your real wage decreased. « Question 6 of 10 > Moving to another question wil save this response 4) F10 12 F7 8 0 0

Explanation / Answer

THe answer is A -) Your nominal wage increases , if your nominal wage rose by a greater percentage than the price level, then your real wage also increases.

because, a nominal wage is the wage that is not adjusted for infaltion . so nominal wage does not tell your purchase power. so if the nominal wage increase. and its increase by greater percentage by price level then real wage also increase. because real wage adjusted for inflation. so higher the nominal wage , leads to higher the real wage.

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