The nominal wage rate is the
A) average hourly wage rate measured in the dollars of a given reference base year.
B) minimum hourly wage that a company can legally pay a worker.
C) average hourly wage rate measured in current dollars.
D) wage rate after inflation has been adjusted out of it.
E) minimum hourly wage rate measured in the dollars of a given reference base year.
Correct Answer:
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Q25: When a good gets better from one
Q26: The CPI is biased because it
A)does not
Q27: When firms decide how much labor to
Q28: If your nominal income is $75,000 and
Q29: If the CPI is 170 at the
Q31: The items included in the CPI are
A)goods
Q32: Since 1305, of the following centuries the
Q33: The difference between nominal and real is
A)nominal
Q34: Nominal GDP was $12.1 trillion and real
Q35: The period for which the Consumer Price
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