In 2008, the nominal minimum wage rate was $7.25 an hour and the CPI was 200. The real minimum wage rate in 2008 was
A) $3.63 an hour.
B) $14.50 an hour.
C) $1450 an hour.
D) $26.32 an hour.
E) $7.25 an hour.
A
Economics
You might also like to view...
Labor productivity equals ________
A) real GDP ÷ aggregate hours B) real GDP × aggregate hours C) aggregate hours ÷ real GDP D) aggregate hours × labor productivity E) aggregate hours ÷ labor productivity
Economics
Which of the following statements is true?
A) The marginal cost curve intersects the average fixed cost curve at its minimum point. B) When marginal cost is greater than average fixed cost, average fixed cost increases. C) Average fixed cost does not change as output increases. D) As output increases, average fixed cost becomes smaller and smaller.
Economics