Refer to the information provided in Table 30.1 below to answer the question(s) that follow.
Table 30.1
-Refer to Table 30.1. From 2015 to 2016 the real wage

Question

Refer to the information provided in Table 30.1 below to answer the question(s) that follow.
Table 30.1 
-Refer to Table 30.1. From 2015 to 2016 the real wage

Quizplus · Accepted Answer

From 2015 to 2016, the nominal wage remained the same at $10 per hour, but the CPI increased from 120 to 130. Therefore, the real wage in 2016 ($7.60) is lower than the real wage in 2015 ($8.33). Thus, the real wage falls.

Refer to the Information Provided in Table 30