Nominal monthly wages increase from $1,500 to $1,800, while the price level increases by 4 percent. The percentage change in real monthly wages is about
A) 10 percent.
B) 12 percent.
C) 14 percent.
D) 16 percent.

Question

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The Answer of Nominal monthly wages increase from $1,500 to $1,800, while the price level increases by 4 percent. The percentage change in real monthly wages is about
A) 10 percent.
B) 12 percent.
C) 14 percent.
D) 16 percent.

Nominal Monthly Wages Increase from $1,500 to $1,800, While the Price