In an effort to discover whether or not workers understand inflation,economist Robert Shiller conducted a survey. When asked about the effect of general inflation on their wages or salary,the most popular response coming from workers was:
A) "My wages usually catch up to rising prices within a year."
B) "The price increase will create extra profit for my employer.... There will be no affect on my pay."
C) "My wages have always increased by more than the rate of inflation."
D) None of the above are correct.
Correct Answer:
Verified
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