Suppose that residents of France have seen their real wage rate increase over time. This means that
A) French workers have increased buying power .
B) French workers have increased their average hours of labor over time.
C) French workers have received increases in their nominal wage rate over time.
D) the CPI must have decreased over time.
E) French workers' inflation rate has increased over time.
Correct Answer:
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Q1: In order to determine if the quantity
Q2: If prices have increased since the base
Q3: The Consumer Price Index (CPI)measures
A)the average of
Q5: Joe buys chicken and beef. If the
Q7: If the cost of the CPI market
Q8: If your nominal income is $80,000 and
Q9: In a small, agricultural nation, consumers buy
Q10: The real interest rate equals the
A)nominal interest
Q11: If the nominal wage is $30 in
Q17: To measure the CPI,the BLS economic assistants
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