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Recall Application 5, "The Declining Real Minimum Wage," to Answer

Question 16

Multiple Choice

Recall Application 5, "The Declining Real Minimum Wage," to answer the following questions:
-According to the application, if the nominal minimum wage is unchanged while prices fall, then the real minimum wage:


A) falls.
B) stays the same.
C) is unaffected.
D) rises.

Correct Answer:

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