Suppose that last year your money wage rate was $22 per hour and the CPI was 130. This year your money wage rate increases to $24 and the CPI increases to 134.5. Your real wage rate has
A) increased from $22.00 to $22.92.
B) increased from $16.92 to $17.84.
C) increased from $15.40 to $15.72.
D) None of the above answers is correct.
Correct Answer:
Verified
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