If a worker receives 6 percent higher nominal wages over a year in which inflation is 2 percent, the worker's real wages have
A) risen by 8 percent.
B) risen by 4 percent.
C) risen by 3 percent.
D) fallen by 3 percent.
E) fallen by 4 percent.
B
Economics
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(Consider This) Payout rates for state lotteries:
A. are considerably lower than payout rates from casinos. B. are considerably higher than payout rates from casinos. C. are roughly equal to the payout rates from casinos. D. cannot be compared with casino payout rates because states do not typically disclose their payout rates.
Economics
When a firm's long-run average cost curve is horizontal for a range of output, then that range of production displays
A) increasing returns to scale. B) constant returns to scale. C) decreasing returns to scale. D) constant average fixed costs.
Economics