In 1998, Pablo earned $200 per week at his job.In 2008, Pablo earned $240 per week.If the CPI in 1998 was 100 and the CPI in 2008 was 152, then
A) Pablo was better off in 2008 because his weekly wage was higher.
B) the 1998 wage measured in 2008 dollars is $157.89
C) the 2008 wage measured in 1998 dollars is $157.89.
D) the 1998 wage measured in 2008 dollars is $131.58
E) the 1983 wage measured in 1994 dollars is $100.
Correct Answer:
Verified
Q150: The GDP deflator is a measure of
A)taxes
Q157: If the price of a soda was
Q169: A ham and cheese sandwich at the
Q170: During this year,nominal GDP in Syldavia was
Q171: If prices have increased since the base
Q176: A change in the real wage rate
Q178: If for a given year nominal GDP
Q186: Your starting salary is $35,000 per year.After
Q188: Which of the following statements about the
Q196: Nominal and real wage rates
A)must always change
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents