Suppose the average nominal wage in an economy has increased by 22% in the last ten years. At the same time, the rate of inflation has been 13%. Which of the following statements is true?
A. In terms of the buying power of their wages, workers are better off.
B. We do not have enough information to determine the buying power of the workers' wages.
C. In terms of the buying power of their wages, workers are worse off.
D. In terms of the buying power of their wages, workers are no better off now than ten years earlier.
Answer: A
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What does? "transitioning people from one job to? another" entail? During the transition? period, what? type(s) of unemployment would describe these? people?
What will be an ideal response?