Which of the following correctly describes how the "global pie is baked"?
A) The United States' share of economic pie is increasing while China's share is decreasing.
B) The increase in manufacturing has taken place in mainly the advanced economies.
C) Asia accounts for about 40 percent of the global pie.
D) Emerging economies account for about 25 percent of the global pie.
E) Advanced economies account for about 50 percent of the value of the world's production.
E
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Indicate whether the statement is true or false
Suppose you received a 3 percent increase in your nominal wage. Over the year, inflation ran about 6 percent. Which of the following is true?
a. Your real wage fell. b. Your nominal wage fell. c. Both your nominal and real wages decreased. d. Although your nominal wage fell, your real wage increased. e. Both nominal and real wages increased.