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.

A

Economics

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Refer to the table. At the $8 wage, labor cost per unit of output is:



A.  $1.25.
B.  $1.50.
C.  $2.00.
D.  $1.67.

Economics

If actual investment is greater than planned investment, unplanned inventories decline.

Answer the following statement true (T) or false (F)

Economics