The price of a candy bar is $1.13 in Year 1 and $1.18 in Year 2. The nominal wage rate is $8 in year 1 and $9 in year 2. What is the approximate percentage change in the real wage rate from year 1 to year 2?

A safe driver would likely choose an auto insurance policy with a

a. low premium and a high deductible. b. high premium and a high deductible. c. high premium and a low deductible. d. high premium and no deductible.

Which of the following statements is true?

What will be an ideal response?