If the price level increases by 5 percent and the nominal wage increases by 3.5 percent, the real wage will decrease by 1.5 percent.
a. true
b. false
a. true
Economics
You might also like to view...
Indirect taxes are levied on
a. spending b. saving c. income d. wealth e. none of the above
Economics
Savings-and-loans are now federally insured through the
A) FDIC. B) FSLIC. C) NCUSIF. D) Comptroller of the Currency.
Economics
Firms tend to raise the price of their goods after acquiring a firm that sells a substitute good because
a. They lose market power b. There is an increase in the overall demand for their products c. The bundle has a more elastic demand than individual goods d. The bundle has a more inelastic demand than individual goods
Economics
The sum of past federal budget deficits increases the:
a. GDP debt. b. trade debt plus debt. c. national debt. d. Congressional debt.
Economics