Bob Smith's money wages rose from $32,000 to $48,000, while the CPI rose by 50%. His real wages
A. fell by 50%.
B. stayed the same.
C. rose by 25%.
D. rose by 50%.
B. stayed the same.
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Which of the following is true of seasonal unemployment?
a. It is not included in calculating the natural rate of unemployment. b. It is reflected in the GDP gap. c. It is always present, even in a healthy economy. d. It causes the natural rate of unemployment to rise. e. It inflates potential GDP.
Which of the following will not change the U.S. real interest rate?
a. capital flight from the United States b. the government budget deficit increases c. the U.S. imposes import quotas d. None of the above is correct.
Profit can be defined as the...
What will be an ideal response?
A situation is efficient if it is:
A. possible to find a transaction that will make at least one person better off, even if others are made worse off. B. possible to find a transaction that will make at least one person better off without harming others. C. possible to find a transaction that will make everyone better off. D. not possible to find a transaction that will make at least one person better off without harming others.