Suppose the real wage remains unchanged between Year 1 and Year 2 but the nominal wage increases from $20 to $24.Based on this information,we can conclude that the price level has:
A)increased by 20 percent.
B)increased by 25 percent.
C)remained unchanged.
D)decreased by 10 percent.
E)decreased by 20 percent.

Question

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The Answer of Suppose the real wage remains unchanged between Year 1 and Year 2 but the nominal wage increases from $20 to $24.Based on this information,we can conclude that the price level has:
A)increased by 20 percent.
B)increased by 25 percent.
C)remained unchanged.
D)decreased by 10 percent.
E)decreased by 20 percent.

Suppose the Real Wage Remains Unchanged Between Year 1 and Year